New Delhi: Digital Paytm Payment Company is expected to seek shareholder approval to increase until RS 16,600 Crore through initial stock sales, giving an assessment of more than Rs 1.78 lakh Crore, according to a source.
Extraordinary PayTM General Meeting is scheduled for July 12 where companies can request approval to collect up to RS 12,000 Crore through the issuance of new equity.
Another Rs 4,600 Crore is expected to be raised from the sale of equity shares by existing shareholders and who qualified, according to the source.
“The company can request shareholder approval to collect around RS 16,600 Crore through IPO.
The existing shareholders, ex and employees currently choose to sell their shares in the process.” Company assessment tends to be in the range.
Rs 1.78 lakh crore to RS 2.2 lakh crore, “said the source.
With this ranging range, the company is expected to be among the top 10 financial services companies listed Fund (19.63 percent), SAIF partners (18.56 percent) and Vijay Shekhar Sharma (14.67 percent).
AGH HOLDING, PRICE OF ROWE, Discovery Capital and Berkshire Hathaway Hold less than 10 percent of each shares in the company .
This company is expected to submit a document for the initial public offering (IPO) next week.