Digital payments major One97 Communications, the parent company of Paytm, has filed a draft red herring prospectus with Sebi in a bid to raise funds via initial public offer (IPO).
Through the IPO, the company is planning to raise Rs 16,600 crore which includes a fresh issue of Rs 8,300 crore and an offer for sale of Rs 8,300 crore by existing selling shareholders such as founder Vijay Shekhar Sharma.
Reportedly, Investors Antfin (Netherlands) Holding BV, Alibaba.com Singapore e-Commerce Private Limited, Elevation Capital V FII Holdings, Elevation Capital V, Saif III Mauritius Company, Saif Partners India IV, SVF Panther (Cayman), and BH International Holdings will also be selling their shares through the offer for sale.
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It is reported that the company may also consider a further issue of equity shares, prior to the filing of the red herring prospectus with the registrar of companies, as per its discussion with the merchant bankers.
