Digital payment and financial services company PayTM is the country’s largest public issue, worth Rs 16,600 crore. This approval was granted by PteMi’s shareholders on Monday. This source of knowledge has stated this. At the time of the initial public offering, the shareholders have approved to raise Rs 12,000 crore and with the sale of the secondary shares, the total will be Rs 16,600 crore. The source said, “Shareholders approved all decisions at the Extraordinary General Meeting (EDM).
The new shares are worth Rs 12,000 crore
Shareholders have been permitted to raise capital during the IPO and issue new shares worth up to Rs 12,000 crore. 16,600 crore, with the sale of secondary shares. Company. Will not be recognized as a promoter but will continue to be the President, Managing Director and Chief Executive Officer of Paytm.
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According to the source, the market valuation of the company after the IPO could increase from Rs 1.78 lakh crore to Rs 2.2 lakh crore. After this, Paytm is expected to be one of the top 10 listed financial services in the country. The company could submit documents for the IPO this week.
Cole India’s record for the biggest IPO to date
The largest IPO record to date is in the name of Coal India. It was worth Rs 15,500 crore in the last quarter of 2010. Alibaba’s Ant Group holds 29.71 per cent, Japan’s Softbank 19.63 per cent, SIF Partners 18.56 per cent and Vijay Shekhar Sharma 14.67 per cent.