New Delhi: After months of speculation and busy activities, Major Paytm’s digital payments finally set a rolling ball to register through the IPO RS 16,600 Crore which will be the biggest offer in the Indian stock market history.
On Friday, Softbank-Backed One97 Communications, the main payment of Paytm’s Digital Startup, submitted a Prospectus draft with a market regulator that shows total mobilization planned through offers to be distributed evenly selling through offers (RS.
8,300 crore) and the company, which will issue new shares (8,300 crore).
Until now, the IPO RS 15,475-Crore for large coal mining managed by the government, which was closed in October 2010, was the biggest IPO in Indian history.
Of the top five Indian IPOs ever, three – Coal India, GIC (RS 11,176 Crore in 2017) and New Indian Guarantee (RS 9,600 Crore in 2017) – is the government’s offer for divestment.
The other two are the strength of dependency (Rs 11,700 Crore in 2008) and SBI cards (Rs 10,355 Crore in 2020.
The largest enlargement of funds by Indian companies through the stock market route is the Official Rights: In June 2020, Heliance Industries has been successfully closed RS offer 53.125 His crore.
According to Draf Prospektus, Paytm headquartered Noida, the latter worth $ 16 billion, will use the 4,300 crore from the results of the IPO to obtain consumers and traders to strengthen its ecosystem.
It will use another RS.
2,000 crore to invest in initiates and investigates acquisition of new business.
Startup, which calculates the Chinese ant group and Alibaba, Japanese Softbank, the capital of elevation (formerly SAIF Mitra) and Gerren Buffet-LED Berkshire Hathaway among his supporters, will also see most of this.
Investors sell parts of the stakes on company.
Ratan Tata, Emeritus Chair of the Tata Group, is also expected to sell its shares, which accounts for less Of the 0.5% of the company, while the founder of VI Jay Shekhar Sharma will disburse his wheels too.
Paytm’s biggest shareholder, ants group, along with the Alibaba parent group has around 37%.
The two entities together are expected to bring down their shares to less than 25% to enable PayTM to be “professionally managed companies” under the guidelines of Sebi.
Sharma, who holds around 14% of Paytm’s shares, has also transferred 5% of its shares to VSS Holding, a company that he has fully.
The holding entity has received a nod to borrow a 492-crore RS loan from One97 communication.
The funds will be included in Paytm Insuretech, an associate of the97 communication company, which in turn will use it to obtain general insurance qbe.
Paytm has signed an agreement on July 2020 to buy QBE’s general insurance.
The proposed agreement is awaiting regulatory approval.
Paytm, however, clarified that there was no certainty whether the transaction would continue.