BENGALURU :
One97 Communications Ltd, which operates Paytm, has set a worth band of ₹2,080 to ₹2,150 for its preliminary public providing (IPO), at a valuation of $20 billion, the corporate stated in a regulatory submitting on Wednesday.
Nearly 75% of the problem value ₹13,725 crore is reserved for certified institutional patrons (QIBs), with 10% of the problem value ₹1,830 crore reserved for retail patrons, the BSE submitting confirmed.
The IPO will open on 8 November and is anticipated to shut on 10 November, Mint reported earlier on Thursday.
One97 Communications Ltd, has successfully elevated its public concern measurement from ₹16,600 crore earlier to ₹18,300 crore, in what could possibly be one of many largest IPOs on the Indian bourses.
Paytm is now anticipated to extend the secondary share sale from current buyers to ₹10,000 crore as part of the elevated IPO measurement. The first portion of the recent share concern will stay unchanged at ₹8,300 crore, Mint reported on 27 October.
Roughly half of the supply on the market by current shareholders can be by Paytm’s largest investor Ant Monetary, which owns 29.6% of the corporate. “Whereas the corporate might have gone for the next band, it selected the present worth band. Accordingly, the corporate would possibly have a look at a valuation of $20 billion,” stated one individual conscious of the corporate’s plans requesting anonymity.
The corporate plans to make use of ₹4,300 crore of the recent concern to develop its enterprise traces and purchase new retailers and clients, based on its draft share sale paperwork.
Funding banks, together with Morgan Stanley, Goldman Sachs Group, Citigroup, and ICICI Securities, are managing the share sale. The Securities and Change Board of India cleared the Noida-based digital funds firm’s IPO, final week.
The 11-year-old Paytm, led by founder and chief government Vijay Shekhar Sharma, has expanded past digital funds into newer classes of lending, gaming, wealth administration, monetary companies, and digital commerce.
Supply: Live Mint