Paytm: Paytm has decided to increase the size of its IPO to Rs 18,300 crore from the earlier Rs 16,600 crore. PTI has given this information in a report. According to the report, this increase in the size of the IPO is due to the sale of more stake by existing shareholders including Alibaba’s Ant Financial and SoftBank.
Paytm IPO: SEBI approves Paytm’s Rs 16,600 crore IPO, will be the biggest primary issue ever in the country
10,000 crore shares to be sold under OFS
With this update, now shares worth Rs 10,000 crore will be sold by the shareholders of the company through an offer for sale under the issue, which means an increase of Rs 1700 crore. At the same time, there has been no change in the issue of new shares. Under the issue, new shares worth Rs 8,300 crore will be issued as before. “About half of the offer for sale is with Ant Financial and the rest with Alibaba, Elevation Capital, SoftBank and other existing shareholders,” PTI quoted a source as saying. Earlier, SoftBank was not among the investors selling stake as disclosed by the company in its IPO draft paper.
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Paytm had filed documents in July
Paytm had filed its documents with SEBI in July for an IPO of Rs 16,600 crore. This included the issue of new shares as well as an offer for sale of Rs 8,300 crore from the shareholders of the company. Paytm had said that the number of new shares to be issued and the number of shares sold under the offer for sale would be equal. However, now under the offer for sale, shares worth Rs 10,000 crore will be sold instead of Rs 8,300 crore.
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