Paytm board OKs India’s largest IPO; firm may file Rs 22,000 cr issue papers with SEBI next month

Paytm, within the offer-for-sale (OFS) despatched to its workers, knowledgeable that it has proposed to undertake an preliminary public providing of its fairness shares, topic to market situations.

One97 Communications-owned Paytm has acquired in-principle approval from its board to drift India’s largest IPO to-date, it mentioned in a letter to workers and different stakeholders. The corporate can be finalising the draft crimson herring prospectus (DRHP), which may very well be filed within the first week of subsequent month, Bloomberg reported citing sources. Paytm expects to boost round Rs 22,000 crore from the general public situation throughout the October-December quarter this monetary yr. Paytm, within the offer-for-sale (OFS) despatched to its workers, knowledgeable that it has proposed to undertake an preliminary public providing of its fairness shares, topic to market situations, regulatory, company and different approvals, and different related concerns, in accordance with relevant regulation, and has acquired in-principle approval from the board of administrators. Monetary Specific On-line has the copy of the letter. To date, the Rs 15,200-crore Coal India’s IPO launched in 2010 is the nation’s largest public situation.

(To be up to date)