Comments
One97 Communications, the parent company of home-grown payments major Paytm, has received approval from market regulator SEBI for its ₹16,600-crore initial public offering.
A source close to the development said SEBI approved the IPO on Friday; the issue is likely to open next month.
Paytm did not respond to an e-mail query from BusinessLine on the issue.
Sources have indicated that the IPO is likely to open just before Diwali in early November or immediately after it, around November 9.
The issue comprises a fresh issue of equity shares amounting to ₹8,300 crore and an offer for sale by existing shareholders of ₹8,300 crore. The company is unlikely to go for a pre-placement IPO and will now directly move ahead with its listing plans.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.