Paytm files draft papers for Rs 16,600-cr IPO with SEBI

TIL Desk/Business/New Delhi/ Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600 crore initial public offering (IPO).

 According to the document, the company plans to raise Rs 8,300 crore through fresh equity and another Rs 8,300 crore through offer-for-sale. The offer-for-sale proposes equity sale by the company’s founder Vijay Shekhar Sharma, Alibaba group and its subsidiary firm Ant Financial, Elevation Capital, Saif Partners, BH International Holdings etc, according to the document.

 The draft red herring prospectus (DRHP) does not disclose the share price and the percentage of stake to be diluted by any of the shareholders in the company.