Companie

Paytm shareholders approve IPO plan

Surabh Mumbai | Updated on July 12, 2021

The digital financial services firm held its extraordinary general meeting

Setting the stage for its listing, shareholders of Paytm are understood to have cleared the proposal for its initial public offering (IPO).

The digital financial services firm held its extraordinary general meeting (EGM) on Monday.

Sources said the IPO will include fresh issue of shares to raise ₹12,000 crore apart from secondary issue of shares.

Paytm is expected to file its draft red herring prospectus soon and is likely to launch its IPO by November.

The EGM also approved a proposal to declassify Paytm founder Vijay Shekhar Sharma as the promoter.

Paytm did not comment on an email query from BusinessLine.

Published on July 12, 2021

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