Jack Ma likely to reap 7x returns in Paytm IPO, Warren Buffett 3x

NEW DELHI: After the first unicorn landing on Dalal Street, another has intimated of its arrival, and that too with a big bang. Paytm’s parent company One 97 Communications on Friday filed IPO papers with Sebi for its Rs 16,600 crore issue.

The issue, if the size does not change by the time the IPO is launched, will be the biggest ever on Dalal Street. Till now, Rs 15,475 crore IPO of Coal India in 2010 holds that record.

As part of the IPO, the Softbank-backed company will issue fresh shares worth Rs 8,300 crore at a face value of Re 1 each, whereas existing shareholders will offload their stake worth another Rs 8,300 crore.