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Thursday, August 05, 2021

Paytm parent rings IPO bell, files for Rs 16,600-cr listing

The offering comprises a fresh issue of equity shares of face value of Rs 1 each aggregating Rs 8,300 crore and offer for sale by the existing shareholders, aggregating Rs 8,300 crore.

By: ENS Economic Bureau | Mumbai |
Updated: July 17, 2021 4:15:41 am
paytm ipo, paytmThe interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture taken July 7, 2021. (REUTERS)

One97 Communications, the parent firm of Paytm, a digital ecosystem for consumers and merchants, has filed the draft red herring prospectus with regulator Sebi for a Rs 16,600 crore initial public offering (IPO).

The offering comprises a fresh issue of equity shares of face value of Rs 1 each aggregating Rs 8,300 crore and offer for sale by the existing shareholders, aggregating Rs 8,300 crore. The company also retains the option to undertake a pre-IPO placement of Rs 2,000 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced to that extent.

The company’s two-sided (consumer and merchant) ecosystem enables commerce, and provides access to financial services, by leveraging technology.

As of FY21, its revenue from operations stood at Rs 2,800 crore from 114 million annual transacting users and had facilitated 7.4 billion transactions, including deals made to merchants via its ecosystem and peer-to-peer payments.

It made a loss of Rs 1,701 crore in FY21, as against losses of Rs 2,942 crore in FY20 and Rs 4,230 crore in FY19.

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