Stocks

Paytm’s ₹16,600-cr IPO gets SEBI nod

Surabhi Mumbai | Updated on October 23, 2021

Paytm had filed the DRHP for its ₹16,600 crore IPO on July 16   -  REUTERS

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.

Published on October 22, 2021

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