Paytm gets Sebi nod for Rs 16,600 crore IPO

Mumbai: Markets regulator Sebi has cleared the Rs 16,600-crore initial public offer of One97 Communications, the parent company of Paytm. This would make the IPO the largest ever in India. The company is understood to be targeting a listing in November.

According to the draft IPO documents filed by the company, One97 Communications plans to raise Rs 8,300 crore through fresh issue of equity shares and another Rs 8,300 crore through the offer-for-sale (OFS) route.