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Paytm IPO to open on 8 November – Mint

MUMBAI :

The initial public offering (IPO) of One97 Communications Ltd, which runs the Paytm payments service, will open for subscription on 8 November for subscription and close on 10 November. The firm plans to list on exchanges on 18 November.

The firm has increased size of its IPO to 18,300 crore from 16,600 crore. It comprises a fresh issue of 8,300 crore and an offer for sale (OFS) of up to 10,000 crore.

The OFS consist sale of up to 402.65 by Vijay Shekhar Sharma, up to 4,704.43 crore by Antfin (Netherlands) Holdings, up to 784.82 crore by Alibaba.com Singapore E-Commerce, up to 75.02 crore by Elevation CapitalV FII Holdings, up to 64.01 crore by Elevation Capital V Ltd, 1,327.65 crore by Saif III Mauritius, 563.63 crore by Saif Partners, 1,689.03 crore by SVF Partners and 301.77 crore by International Holdings.

The biggest IPO in the history of Indian capital markets so far has been that of Coal India (CIL), which raised 15,475 crore in 2010.

The Noida-based company, 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.

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

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