Paytm IPO Size may go up by at least Rs.1k crores

Fintech firm Paytm Rs. 16,600-crores initial public offer in (IPO), billed as one of the largest in India, is expected to increase the offer size by around Rs. 1,000-2,000 crore, people briefed on the matter said.

This will largely be through a secondary share sale, technically known as an Offer for Sale (OFS), where existing investors will sell shares.

The development comes at a time when Paytm parent One97 Communications- which houses Paytm and its fintech offshoots-is expected to receive an approval from the capital markets regulator, the Securities and Exchange Board of India (Sebi) over the next few days.

Paytm mat also increase the primary component through a fresh issuance of shares, the sources added.

“The move to increase the offer size has come after receiving the Sebi comments which are minor in nature.

Owing to high interest in startup IPOs, the company has taken the call to increase offer size,” one of the people briefed on the matter said. S-ET

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