Paytm Files Papers For ₹ 16,600 Crore IPO

According to Paytm's draft red herring prospectus, the IPO will contain an issue of new shares worth Rs 8,300 crore and an offer for sale of Rs 8,300 crore.

On Friday, the Sebi website revealed that Paytm, formerly known as One97 Communications, has submitted draft documents for an initial public offering (IPO) worth up to Rs 16,600 crore. Paytm is supported by Alibaba and Ant Group in China, SoftBank in Japan, and Berkshire Hathaway, owned by Warren Buffett.
The Paytm IPO will be India’s most extensive public offering, surpassing Coal India’s $15,000 crore IPO from over a decade ago.
According to Paytm’s draft red herring prospectus (DRHP) or offer document filed with the Securities and Exchange Board of India, the IPO will contain an issue of new shares worth Rs 8,300 crore and a proposal for sale of Rs 8,300 crore.
The IPO process starts with a draft red herring prospectus (DRHP) or offers document. It comprises information about the company, its promoters, and the initial public offering (IPO), based on which the market regulator SEBI will approve the listing.