Paytm IPO: Offer size increased to Rs 18,300 crore as Chinese investor plans to sell more stake

Paytm has increased the size of its initial public offering to $2.44 billion. 

New Delhi: Indian digital payments leader Paytm has boosted the size of its initial public offering to 183 billion rupees ($2.44 billion) from 166 billion rupees, as existing shareholders look to sell more stake ahead of the country`s largest stock market listing.

Paytm was likely to target a price band of 2,080-2,150 rupees per share for the IPO for a likely valuation of around $20 billion, a source directly aware of the matter told Reuters.

The company increased the size of its IPO as it received increased investor demand, said the source, who did not want to be named as the information was not public. Paytm did not immediately respond to a Reuters request for comment.