Paytm’s IPO will be of so many crores, earlier there was a plan to raise 21,800 crores!

Paytm, a digital payment startup, is set to go public in November of this year. This IPO was expected to be worth more than 20,000 crores. However, the business has now filed the required paperwork (DHRP) with SEBI in order to bring the IPO to market, putting an end to uncertainty over the IPO’s size.

Paytm
Paytm

Vijay Shekhar Sharma’s Paytm’s initial public offering (IPO) will be the country’s largest stock market debut ever. Coal India has previously collected Rs 15,000 crore through an initial public offering (IPO).

With this IPO, Paytm hopes to boost its market capitalization to $25-30 billion (about Rs 1,815 to Rs 2,180 billion). Vijay Shekhar Sharma, SoftBank Vision Fund, and Alibaba’s Ant Group have all invested in Paytm.

Paytm
Paytm

Paytm’s IPO shares would be held for ‘offer for sale.’ In addition, the firm would issue additional shares with a face value of Rs 1 worth up to Rs 8,300 crore. Existing shareholders, on the other hand, will keep only shares worth a certain amount of money to sell. Any listed firm must issue 10% of its IPO within two years and 25% of the shares within five years, according to SEBI guidelines.

Paytm
Paytm

Paytm’s worth might be in the billions of rupees. However, the firm continues to lose money. The company’s loss during 2020-21 was Rs 1,701 crore, down from Rs 1,701 crore in 2019-20. In 2019-20, the firm lost Rs 2,942 crore.

Paytm
Paytm

Paytm began as a mobile wallet service and has now grown into a significant financial firm. It now provides payment banking, credit cards, financial services, wealth management, and digital payment services. Aside from that, the firm has lately entered the mobile game market.