Paytm parent rings IPO bell, files for Rs 16,600-cr listing

One97 Communications, the parent firm of Paytm, a digital ecosystem for consumers and merchants, has filed the draft red herring prospectus with regulator Sebi for a Rs 16,600 crore initial public offering (IPO).

The offering comprises a fresh issue of equity shares of face value of Rs 1 each aggregating Rs 8,300 crore and offer for sale by the existing shareholders, aggregating Rs 8,300 crore. The company also retains the option to undertake a pre-IPO placement of Rs 2,000 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced to that extent.

The company’s two-sided (consumer and merchant) ecosystem enables commerce, and provides access to financial services, by leveraging technology.