Paytm gets Sebi nod for Rs 16,600cr 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.
The Rs 16,600-crore offer will make Paytm IPO the largest listing after public sector miner Coal India’s Rs 15,990 crore IPO in 2010 and Reliance Power in 2008.