vijay shekhar sharma, paytm share price, paytm share, paytm ipo, paytm
New Delhi, Digital financial services firm Paytm has received market regulator Sebi’s approval for its Rs 16,600 crore initial public offer, a source involved in the process said on Friday. The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing.
“Sebi has given approval for Paytm IPO,” the source said on condition of anonymity.
The company’s plan of shelving the pre-IPO raise is not related to any valuation differences, the source added.
The proposed IPO, if successful, would be the largest such offer. Coal India’s Rs 15,200-crore initial public offer (IPO) in 2010 is the country’s largest one till date.
Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore.
US-based valuation expert Aswath Damodaran, who is a professor specialising in finance at the Stern School of Business at New York University, has valued the unlisted shares of the firm at Rs 2,950 apiece.
According to the draft IPO documents, the company plans to raise Rs 8,300 crore through fresh issue of equity shares and another Rs 8,300 crore through the offer-for-sale route.
Paytm founder, managing director and chief executive Vijay Shekhar Sharma and Alibaba group firms will dilute some of their stake in the proposed offer-for-sale.
Alibaba group firm Antfin (Netherlands) Holding BV is expected to sell at least 5 per cent stake to bring its shareholding below 25 per cent to comply with regulatory requirements, according to a source.
As per the documents, investors selling stake include Antfin (Netherlands) Holding BV (which has a 29.6 per cent stake), Alibaba.Com Singapore E-Commerce Private Ltd (7.2 per cent) and Elevation Capital V FII Holdings Ltd (0.7 per cent).
Moreover, Elevation Capital V Ltd (which has a 0.6 per cent stake), SAIF III Mauritius Company Ltd (12.1 per cent), SAIF Partners India IV Ltd (5.1 per cent), SVF Panther (Cayman) Ltd (1.3 per cent) and BH International Holdings (2.8 per cent) will also sell stake.
The company has proposed to use Rs 4,300 crore for growing and strengthening the Paytm ecosystem, including through acquisition of consumers and merchants and providing them with greater access to technology and financial services.
Paytm plans to earmark Rs 2,000 crore for business initiatives, acquisitions and strategic partnerships and up to 25 per cent of the total fund raised through the IPO for general corporate purposes.
According to the documents, Paytm’s merchant base grew to 2.11 crore as on March 31, 2021 from 1.12 crore in March 2019, and gross merchandise value (GMV) almost doubled to over Rs 4 lakh crore in the financial year (FY) from Rs 2.29 lakh crore in FY 2019.
The company has reported a narrowing of its loss to Rs 1,704 crore in FY21, from Rs 2,943.3 crore in FY20 and Rs 4,235.5 crore in FY19.
Total income declined to Rs 3,186.8 crore in FY21, from Rs 3,540.7 crore in FY20.
Paytm has reported negative cash flow of Rs 222.1 crore in FY21 primarily due to operating losses and additional working capital requirement.

NEWS RELATED

Mayfair Equity Partners aquires UK adtech platform LoopMe for $120M

Founded back in 2012, the LoopMe adtech/martech startup focused on brand-based mobile advertising, using AI to deliver measurable outcomes for its users. At its height, it had raised $25m equity and $10m of venture debt (which was fully paid off before signing). But there’s a reason for using the ...

View more: Mayfair Equity Partners aquires UK adtech platform LoopMe for $120M

Germany criticizes Czech tycoon's 257-mph Autobahn ride

BERLIN — Germany’s Transport Ministry has criticized a stunt that saw a Czech millionaire drive his high-powered sports car along a public highway at speeds of up to 414 kilometers per hour (257 mph). A video posted online this month shows Radim Passer pushing his Bugatti Chiron to extreme speeds ...

View more: Germany criticizes Czech tycoon's 257-mph Autobahn ride

Global IT company named best employer in Australia and 16 other countries

A global internet technology company has taken the top spot as the best employer in Australia and 16 other countries. With many industries, particularly the IT industry, undergoing transformational change and challenge in the wake of the great resignation, HCL Technologies (HCL) has stood strong in the face of ...

View more: Global IT company named best employer in Australia and 16 other countries

Deals: iPhone 12/mini sees $232 refurb discounts, plus Philips Hue and Eve HomeKit gear

All of today’s best deals kick off with $232 iPhone 12/mini discounts. That’s alongside HomeKit gear from Philips Hue and Eve starting at $30. Hit the jump for all that and more in the latest 9to5Toys Lunch Break. Save $232 on iPhone 12/mini with rare cert. refurb discounts Woot ...

View more: Deals: iPhone 12/mini sees $232 refurb discounts, plus Philips Hue and Eve HomeKit gear

Dell home office laptops are over $700 off right now!

Business owners and employees who are working from home should always be on the lookout for home office deals that will make the daily grind easier, and that includes laptop deals if you prefer portability over being forced to buy from desktop monitor deals if you go for a ...

View more: Dell home office laptops are over $700 off right now!

What’s coming to and leaving Netflix Canada in February 2022

Space Force: Season 2, Disenchantment: Part 4, and The Cuphead Show! are hitting Netflix this month In February 2022, Netflix Canada is set to stream several new TV shows and films, including Inventing Anna, The Farewell, The Tinder Swindler, Space Force: Season 2, Tall Girl 2, Disenchantment: Part 4, and The Cuphead Show! Coming ...

View more: What’s coming to and leaving Netflix Canada in February 2022

Hyundai Says The 2022 Santa Fe’s Instrument Cluster Could Become Illegible

A number of 2022 Hyundai Santa Fe HEV and Santa Fe PHEV models are being recalled in the United States due to an issue with their digital instrument cluster. A recall notice issued by the National Highway Traffic Safety Administration (NHTSA) reveals that the display may have been produced with ...

View more: Hyundai Says The 2022 Santa Fe’s Instrument Cluster Could Become Illegible

Deals: OnePlus 9 Pro sees $224 discount, DJI Mini SE bundle, more

All of today’s best deals include a $224 off OnePlus 9 Pro deal with its Hasselblad-backed cameras in tow. That’s alongside a DJI Mini SE bundle at $355 and Wyze Smart Scale S for $20. Hit the jump for all that and more in the latest 9to5Toys Lunch Break. ...

View more: Deals: OnePlus 9 Pro sees $224 discount, DJI Mini SE bundle, more

NBA Metaverse: Nets Create 'Netaverse' for Virtual Fans to Watch Basketball Game, Use 100+ High-Resolution Cameras!

Number of 'Active' Blockchain Games Doubled in Past Year to Almost 400

The aftermath of Log4j - What can be done to protect businesses?

Microsoft Plans $70 Million Purchase of Activision Blizzard

Omicron-led spike in COVID test-related phishing poses threat to businesses

Maserati Levante Hybrid SUV Bookings Commence Ahead of Launch in India

US Senator's Inflation Report Says 'Its Only Going to Get Worse,' Truflation Oracle Reveals True Inflation Rate

Un Ferrari Enzo se estrella contra un árbol en Países Bajos

Why do mitochondria look like they do?

Combining magic and music, Songs of Glimmerwick announced for PC and console

The perfect trap: A new way to control the polarization of light

Comprehensive detection of on- and off-target mutations

OTHER NEWS

;