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Fintech unicorn Paytm files for Rs.16,000-Cr IPO

Economic Times  

Noida-based fintech firm Paytm has filed a draft prospectus with the capital markets regulator Sebi to raise INR 16,600 crore (USD 2.2 billion) in what will be the biggest Indian initial public offering (IPO) in a decade. The Paytm IPO will comprise equally of a fresh issue worth INR 8,300 crore (USD 1.1 billion) as well as a secondary issue or an offer for sale of the same size. Paytm may also consider a pre-IPO funding round of up to INR 2,000 crore. If that happens the size of the fresh issue will be accordingly adjusted. The company is targeting a valuation in the band of USD 24-30 billion. About 75% of Paytm's public issue will be reserved for qualified institutional buyers (QIBs) while 15% for non-institutional investors (NIIs) and the balance 10% for retail investors. Up to 60% of the QIB portion may be allotted to anchor investors.

From the Venture Intelligence PE-VC Deal Database: Between Apr-07 and Nov-19 Paytm raised over $4-B from Alibaba, SoftBank Corp, Berkshire Hathaway, MediaTek, Elevation Capital, Ratan Tata, Reliance Venture, Saama Capital, Intel Capital and others. Some have made exits. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)