After the approval of the market regulator SEBI, the way has been cleared for Paytm’s parent company One97 Communications to present an IPO of Rs 16,600 crore. Under the IPO, Paytm will sell shares worth Rs 8300 crore in the primary sale.
New Delhi. Harsh Vardhan Goenka, Chairman of RPG Group has shared a video on Twitter today, in which the atmosphere of celebration is seen in the office of digital payment and financial services company Paytm. In the video, Paytm founder Vijay Shekhar Sharma is also seen dancing fiercely. In fact, there was a festive atmosphere in the company’s office after the capital market regulator SEBI approved the Paytm IPO of more than Rs 16,000 crore, which is considered to be the country’s biggest public offer so far.
Dance on your own
In the video, Vijayasekhar Sharma is seen dancing with the staff on the Bollywood song ‘Apni To Jaise Taise’. After SEBI’s approval, the way has been cleared for Paytm’s parent company One97 Communications to present an IPO of Rs 16,600 crore. Under the IPO, Paytm will sell shares worth Rs 8300 crore in the primary sale, while the remaining shares worth Rs 8300 crore will be sold in the offer for sale (OFS). The company plans to list in mid-November 2021. The company had applied for IPO in July 2021.
Scenes at Paytm office after SEBI approves one of India’s largest IPOs 😀😀@vijayshekhar pic.twitter.com/6yQHKVBm39
— Harsh Goenka (@hvgoenka) October 24, 2021
What will be the face value of the share
The shares of Paytm will be of face value of Re 1. Company’s founder Vijay Shekhar Sharma will sell some of his stake in Paytm IPO. At the same time, existing investors of Paytm, SoftBank, Alibaba, Ant Financial Group and SAIF will also reduce their stake. Ratan Tata’s private investment fund can sell its entire stake in it.
India’s biggest IPO
Paytm’s IPO will be India’s biggest IPO ever. Before this this record was in the name of Coal India. Coal India had raised Rs 15,000 crore through IPO about a decade ago. Vijay Shekhar Sharma started One97 in the year 2000. Earlier the company started as a value-added service provider. Later it developed like an online mobile payments firm.
