Digital payments and financial services firm Paytm has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed Rs 16,600 crore initial public offering (IPO).
The company proposes to use Rs 4,300 crore for growing and strengthening the Paytm ecosystem, including through the acquisition of consumers and merchants and providing them with greater access to technology and financial services. Paytm plans to earmark Rs 2,000 crore for business initiatives, acquisitions, and strategic partnerships and up to 25 percent of the total fundraised through the IPO for general corporate purposes. BRLMs stands for Book Running Lead Managers.
Paytm is an Indian digital payment system and financial technology company, based in Noida.