Paytm IPO: For the country’s largest IPO, Paytm has submitted papers with SEBI, plans to raise 16600 crores through issue

Paytm has today filed DRHP with SEBI for an IPO of Rs 16,600 crore, which will prove to be the largest IPO in the country.

Paytm IPO: Digital payments and financial services firm Paytm has filed a draft red herring prospectus (DRHP) with market regulator SEBI. Paytm has filed this prospectus to bring an IPO of Rs 16,600 crore. Under this public issue, equity shares worth Rs 8,300 crore will be fresh issue while shares worth Rs 8,300 crore will be issued under offer for sale (OFS). However, the price band for the Paytm IPO is yet to be decided and will be decided either at the time of filing the Red Herring Prospectus (RHP) or before the IPO opens for subscription.

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Board approval was received last month

One97 Communications-owned Paytm’s proposal to launch an IPO was approved by the company’s board in early June last month. In a letter sent by Paytm to its employees and stakeholders, it was informed that the board has given approval to bring the country’s largest IPO. The company has today filed DRHP with SEBI for an IPO of Rs 16,600 crore, which will prove to be the largest IPO in the country. Morgan Stanley India Company Pvt Ltd, Goldman Sachs (India) Securities Pvt Ltd, Axis Capital, ICICI Securities, JP Morgan India Pvt and Citigroup Global Markets India Pvt Ltd are the Joint Global Coordinators and Book Running Lead Managers for the issue. The registrar for this issue is Link Intime India Pvt.

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Coal India’s biggest IPO so far

So far, the largest IPO in the country has been of the government company Coal India. In 2010, Coal India raised Rs 15,200 crore through IPO. At the same time, before this, Anil Ambani Group’s company Reliance Power had brought an IPO of 11 thousand crores. Last year SBI Payments and Cards launched an IPO of Rs 10,000 crore.