Sebi gives nod to Rs 16.6K-cr Paytm parent IPO; set to be India’s largest

One97 Communications, the parent entity of Paytm, has received approval of the Securities and Exchange Board of India (Sebi) to launch the $2.2 billion (around Rs 16,600 crore) initial public offering (IPO), the largest in India’s corporate history.

The firm, founded by Vijay Shekhar Sharma in 2000, is planning to raise Rs 8,300 crore by issuing fresh stock and the same amount in an offer for sale that will result in some pre-IPO investors offload shares.

According to sources, the company is likely to list its shares on the BSE and the NSE by mid-November. The company is looking at a valuation of Rs 150,00 crore to Rs 165,000 crore from the IPO. The company was valued at around Rs 120,000 crore when it last raised funds two years ago.