New Delhi: Paytm IPO details are out as its parent company one 97 Communications has filed the mandatory draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The DRHP is considered as a valuable documents that contain key information regarding the Initial Public Offering.
Paytm IPO Price, Paytm IPO Size, Paytm IPO Valuation
- According to the draft red herring prospectus, Paytm will look to raise Rs 16,600 crore through its initial public offering.
- Paytm IPO will comprise fresh issue of shares worth Rs 8,300 crore. There will be an offers for sale (OFS) by existing shareholders worth up to Rs 8,300 crore.
- Notably, Paytm’s founder Vijay Shekhar Sharma, Alibaba.com Singapore, Antfin (Netherlands), Elevation Capital, Saif Partners, SVF Panther (Cayman) and BH International Holdings will sell stake in the OFS, as per an IANS report.
- Paytm would use the IPO proceeds to strengthen its payment ecosystem and for new business initiatives and acquisitions. Around 75 per cent of the net offer has been reserved for qualified institutional buyers (QIBs) and up to 60 per cent of the QIB portion may be allocated to anchor investors.
- Around 15 per cent of the net offer will be available for allocation on a proportionate basis to non-institutional investors (NIIs) and the remaining 10 per cent shall be available for retail bidders, as per IANS report.
- Morgan Stanley India Company, Goldman Sachs (India) Securities, Axis Capital are the joint global coordinators and BRLMs for the issue. ICICI Securities, JP Morgan India, Citigroup Global Markets India and HDFC Bank would be the the BRLMs of the issue, the IANS report says.