Paytm to hike IPO size to Rs 18,300 crore as Alibaba’s Ant, other investors dilute more stake

Digital financial services firm Paytm will increase its initial public offer size to Rs 18,300 with company’s biggest shareholder Alibaba group firm Ant Financial and existing investors including Softbank deciding to dilute more stake in the company, sources said.

The company had plans to raise a total of Rs 16,600 crore by issuing fresh equity worth Rs 8,300 crore and another Rs 8,300 crore through an offer-for-sale.

With existing shareholders deciding to dilute more equity, the offer-for-sale will go up by Rs 1,700 crore to Rs 10,000 crore.

“Roughly half of the offer for sale is by Ant Financial and the remaining by Alibaba, Elevation Capital, Softbank and other existing shareholders,” one of the sources said.