Paytm Board grants in-principle approval for IPO
The Hindu
The board of One97 Communications, the parent firm of Paytm, has given its in-principle approval for the $3 billion (nearly ₹22,000 crore) initial public offer, according to sources.The Board took up
The board of One97 Communications, the parent firm of Paytm, has given its in-principle approval for the $3 billion (nearly ₹22,000 crore) initial public offer, according to sources. The Board took up the matter for discussion in its meeting on Friday. “The Board has given in-principle approval for the IPO. The company expects to raise around ₹21,000-₹22,000 crore,” a source said, adding that the company is eyeing a timeline of July for the draft red herring prospectus (DRHP) and October-December quarter for the IPO.
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