- July 15, 2021
- Posted by: Clue Finserv
- Category: Knowledge Corner
This could well turn out to be a momentous week for the startup ecosystem in India. A day after food-delivery platform Zomato opened its initial public offering, fintech major Paytm is likely to file its draft documents for its IPO later on July 15, sources told Moneycontrol
The draft red herring prospectus (DRHP), which broadly outlines a company’s reasons to raise money, use of funds and risks, of One 97 Communications, which owns and operates Paytm, was ready and would soon be filed with the Securities and Exchange Board of India (SEBI), sources said.
Paytm is looking to raise primary funds to the tune of Rs 8,300 crore and the remaining would be the secondary sale of shares by the company’s investors, sources said.
To an email query sent by Moneycontrol, Paytm said, “We would not be able to comment.”
The large IPO issue size is likely to be split 50:50 between fresh money and an offer for sale (OFS). Paytm could be looking to raise about Rs 2,000 crore as pre-IPO funds out of the total fresh issue of Rs 8,300 crore.