NEW IPO : The Rs 16,600 crore IPO of One97 Communications, the parent company of digital payment platform Paytm, has got SEBI approval. According to the news of Bloomberg, the company’s IPO was approved by the market regulator SEBI on Friday. Sources related to this said that this will be the biggest IPO of the country so far. The listing of the IPO can happen in mid-November.
SoftBank, Berkshire Hathaway Jack Ma’s stake
One of the world’s largest investors is SoftBank and Warren Buffett’s company Berkshire Hathaway as well as Chinese industrialist Jack Ma’s Ant group Co in Paytm. also has a share. There is tremendous interest among investors towards this IPO. It is also expected to get a great response like the IPO of Zomato, which was listed in July. If Paytm brings an IPO of 16,600 crores, then it will prove to be the biggest IPO in the history of the country. Earlier, the IPO of 15 thousand crore rupees of the government company Coal India came in 2013.
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Equal shares will be issued under new and offer for sale
Paytm plans to launch IPO from Diwali. Paytm had filed its documents with SEBI in July for an IPO of Rs 16,600 crore. This will include the issuance of new shares as well as an offer for sale of Rs 8,300 crore from the shareholders of the company. According to sources, the company has not yet decided about the pre-IPO round. This will depend on the needs of the investors, taxes and lock-in period.
Paytm has said that the number of new shares to be issued and the number of shares sold under the offer for sale will be equal. According to a blog of Paytm, it has the largest share in the merchant-payment market of the country. At present, there are 20 million merchant partners in its network. Its users do 1.4 billion transactions a month.
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