New Delhi: One97 Communications Ltd.
India Paytm Payment Company Master, will submit a draft Prospectus in early July 12 for an initial domestic public offering (IPO) which seeks to collect $ 2.3 billion, two sources close to the word on Monday.
The money will be raised through the sale of new Paytm shares and secondary stock offerings with assessment expected $ 24 billion to $ 25 billion with the option to raise the number at the next stage if needed, refuse to be named.
Because this problem is not public.
The prospectus will be submitted immediately after the Extraordinary General Meeting of Paytm (EGM) shareholders in Delhi on July 12, the source added.
Paytm refused to comment.
Paytm, which calculates Alibaba and Japanese Softbank as a supporter, is looking for shareholder approval at the EGM to sell up to RS 12,000 Crore ($ 1.61 billion) in new shares and have the option to maintain excessive subscribing to 1%, Reuters.
previously reported.
The company has employed JPMorgan Chase, Morgan Stanley, Icici Sachs, Goldman Sachs, Axis Capital, Citi and HDFC Bank for IPO, source said.
Citi and Icici Sec refused to comment.
Other banks did not immediately respond to a comment request.
Paytm to submit a Prospectus draft in early July 12 for $ 2.3 billion IPO: Report
