Paytm gets board approval for IPO

BENGALURU : One97 Communications Ltd, owner of digital payment app Paytm, on Monday invited shareholders to tender equity shares in part or in full for sale during its public listing slated to be held by November-end.

In a letter to its shareholders, the company said that it has received an in-principle approval from the board of directors to undertake an initial public offering (IPO).

The proposed IPO is contemplated to include fresh issue of equity shares by the company and an offer for sale of equity shares by existing shareholders, Paytm said.

“You may, in your sole discretion, participate in the offer by offering either all or a part of the equity shares held by you… in the offer for sale.