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Noida-based fintech company, One97 Communications also know as Paytm has filed its DRHP with the regulator for an aggregate offer size of Rs 16,600 Crore through an Initial Public Offering.
According to the market sources, “The Issue comprises a Fresh Issue of equity shares of Face Value of Rs 1 each aggregating to Rs 8,300 Crore and Offer for Sale by the existing shareholders, aggregating to Rs 8,300 Crore.”
The Company also retains the option, in discussion with BRLMs, to undertake a pre-IPO placement of INR 2,000 Crore, subject to relevant approvals. If the pre-IPO placement is completed, the Fresh Issue size will be reduced to that extent.
“The Initial Public Offer is being made under rule 19(2)b of the Securities Contracts (Regulation) Rules, 1957, as amended, (the “SCRR”) and Regulation 31 of the SEBI ICDR Regulations where allocation to QIBs is 75%, NIIs is 15% and RIBs is 10%,” Sources added.
The company has also appointed leading managers as Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, Axis Capital Limited, JP Morgan India Private Limited, Citigroup Global Markets India Private Ltd, and HDFC Bank Limited for the share issue.