This would make the IPO the largest ever in India!
In the recent news One97 Communications, the parent company of fintech platform Paytm received approval from the SEBI for its Rs 16,600 crore IPO.
However, the company has boosted the size of its IPO from 16,600 crores to 18,300 crores. It consists of an 8,300-crore new issuance and a 10,000-crore offer for sale (OFS).
Paytm Has Increased Size Of Its IPO!
One97 Communications, the parent company of fintech platform Paytm, has received the nod from the Securities and Exchange Board of India (SEBI) for its IPO. Vijay Shekhar Sharma started One97 in the year 2000.
So initially it started as a value-added service provider and now after all these years, it has evolved into an online mobile payments company. Paytm is presently India’s second most valuable Internet firm, with a market capitalization of $16 billion.
The firm has increased the size of its IPO to ?18,300 crores!
Paytm whose IPO will be valued at $30 billion, nearly twice its previous $16 billion valuations.
Paytm IPO’s Opening And Closing Date
The IPO of One97 Communications Ltd, which operates the Paytm payments service, will begin accepting subscriptions on November 8 and end on November 10.
On November 18, the company intends to list on stock exchanges.
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