Paytm Files for an IPO of Rs 16,600 cr
Paytm Files for an IPO of Rs 16,600 cr

Paytm, an Indian digital payments startup, is backed by investors including Berkshire Hathaway Inc, China's Ant Group, and Japan's SoftBank, has filed for an Initial Public Offering (IPO) of up to Rs 16,600 crore.

The SoftBank-backed company’s IPO will include an issue of new shares worth Rs 8,300 crore and an offer for sale worth Rs 8,300 crore.

Paytm, which is owned by One97 Communications Ltd, said it would use the IPO proceeds to strengthen its payment ecosystem and for new business initiatives and acquisitions.

The booking running managers for the IPO are JP Morgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi, and HDFC Bank.

Stay on top – Get the daily news from Indian Retailer in your inbox
Also Worth Reading