Mumbai: RS 18,300-Crore Mega IPO from Paytm’s Parent One97 Communications will be opened on November 8 and close on the 10th.
The company clears the last obstacle for the IPO – nodds for its offer documents from the Company Registrar – on Wednesday.
Permit for the IPO comes on Swiss Day again announced the investment of Rs 920-Crore at Paytm Insuretech, the parent company for its non-life business, for 23% of the shares.
The price range for stocks tends to Rs 2,080-2,150.
At the price range, the assessment targeted by the company is around $ 20 billion (Rs 1.5 lakh crore).
The Red Herring Prospectus provides insight into the company’s financial performance in the first quarter.
According to the document, the company’s revenue rose 46% to RS 948 Crore at Q1FY22 from RS 649 Crore at Q1FY21.
Paytm losses reached RS 382 Crore for three months ending June 2021 after higher employee costs, which included accounting for ESOPS and an increase in the number of employees.
Paytm user base grew in the first three months of FY22 to 33.7 registered consumer crore and 2.2 Merchant Crore.
The number of monthly transaction users also saw a 33% increase to 5.7 crores on September 30.
Financial payments and services contribute to almost 80% of the income for the company.
According to the prospectus, income for the first quarter in this segment stands at RS 689 Crore.
The contributing margin, which is a reflection of the profitability unit, up 27% from 15% a year ago.
In July this year, Paytm acquired General Insurance at Raheja QBE on an agreement to assess the company at RS 568 Crore.
The company was held through the Associate Associate Paytm Insuretech.
On Wednesday, Paytm said that he had partnered with Swiss reinsurance giants back for joint ventures.
Switzerland will return to invest (through equity shares and mandatory conversion preference shares) around Rs 920 Crore (RS 397 Crore in advance, and the rest in stages, depending on the fulfillment of certain milestones) for aggregate pegs 23% on the base.
Swiss returns show that non-soul business assessments have increased after being part of the technology platform.