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Paytm ready to launch biggest IPO in India

Paytm ready to launch biggest IPO in India
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Paytm ready to launch biggest IPO in India

Paytm ready to launch biggest IPO in India

PayTM is coming up with the biggest IPO ever in the country. In this, IPOs of 8300 crores have been kept for retail investors. Earlier, Coal India had come out with an IPO of 15,475 crores. PayTM’s parent company One97 has submitted the draft prospectus to SEBI.

New Delhi. For several months, there were continuous reports about PayTM’s IPO. In this, the eyes of the investors were also fixed on the board meeting of the company. Finally, the company has submitted the draft prospectus for SEBI’s IPO of 16,600 crore, in which the company will issue fresh issue of 8300 crores.

READ MORE:- PayTM is giving Rs 1,000 loan every month, mobile recharge, pay electricity bill

India’s biggest IPO

The IPO market has been very hot this year. Many companies have raised money through the market and speculations about PayTM’s IPO are being made for a long time. It is worth noting that before this, the IPO of Coal India had come. Coal India’s IPO of Rs 15,475 crore, which came in 2010, was the biggest IPO ever. This was followed by New India Assurance’s IPO of 9600 crores in 2017 and Reliance Power’s big IPO of 11700 crores in 2008.

Paytm IPO

According to this draft given by PayTM to SEBI, the value of this Noida-based company has been given as $16 billion. PayTM will raise 16,600 crores through this IPO, of which 8,300 crores have been earmarked for retail investors. This draft has been submitted to SEBI on Friday by PayTM’s parent company One97.

PayTM founder Vijay Shekhar Sharma is no longer its owner. There are huge investments in it by foreign companies including many Chinese companies. It would be difficult to call PayTM an Indian company as its Indian founder Vijay Shekhar Sharma holds only 14.6 per cent stake in the company.

At the same time, the famous Chinese company Ali Baba has a 7.2 percent stake in PayTM and ANT Group, the owner of the largest PayTM, holds 29.6 percent. Both these companies own about 37 percent in PayTM. Now after the new IPO comes, the rights of the owners of these companies will be reduced and Ali Baba and ANT Group will remain up to 25 percent.

PayTM is India’s largest online payment company which is growing rapidly after demonetisation. The coming time is for online payment only. PayTM has earned its name well in the market, you can guess it from the fact that people say while transferring money among themselves, do PayTM. According to experts, looking at the time to come, the company can make good growth, so profit can be earned by investing in PayTM’s IPO.

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