New Delhi, July 16

Digital payments firm Paytm has filed papers for its proposed Rs 16,600-crore IPO with SEBI. It plans to raise Rs 8,300 crore through fresh equity and another Rs 8,300 crore through offer-for-sale.

Paytm founder, MD & CEO Vijay Shekhar Sharma and Alibaba group firms will dilute some of their stake in the proposed offer-for-sale.

Alibaba group firm Antfin (Netherlands) Holding BV will be selling at least 5% stake to bring its shareholding below 25% in Paytm to comply with regulatory requirements, according to a source. — PTI