Paytm files draft papers for Rs 16,600 cr IPO with SEBI; Antfin to sell 5 pc stake
DIGITAL payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600 crore-initial public offering (IPO) with the Securities and Exchange Board of India. According to the document, the company plans to raise Rs 8,300 crore through fresh equity and another Rs 8,300 crore through offer-for-sale.
Paytm founder, managing director and chief executive officer Vijay Shekhar Sharma and Alibaba group firms will dilute some of their stake in the proposed offer-for-sale.
Alibaba group firm Antfin (Netherlands) Holding BV will be selling at least 5 per cent stake to bring its shareholding below 25 per cent in Paytm to comply with regulatory requirements, according to a source.