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Paytm gets SEBI’s nod for Rs 16,600 crore IPO
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Digital financial services firm Paytm has received market regulator -- Securities Exchange Board of India’s (SEBI's) approval for its Rs 16,600 crore initial public offer (IPO). The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing.
The company's plan of shelving the pre-IPO raise is not related to any valuation differences. Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore.
According to the draft IPO documents, the company plans to raise Rs 8,300 crore through fresh issue of equity shares and another Rs 8,300 crore through the offer-for-sale route.
