![]() ![]() It also houses the company’s insurance broking and credit business along with other subsidiaries. One 97 Communications currently houses the company’s movie and travel ticketing business its wealth management platform, Paytm Money its online payment gateway business, Paytm Payment Gateway, along with its offline point-of-sale business. New Delhi: Digital payments and monetary firm Paytm has received over five.45 hundred thousand shares from around twenty additional staff for proof in its. Founder Vijay Shekhar Sharma’s stake stands at 14.67% in the company. The IPO will also give a liquidity event for long-term shareholders as they look to offer a portion of their stake to retail investors.Īt present, Alibaba Group Holding Ltd and its payments arm ANT Financial hold almost 37% stake in the payments major, while Softbank through its Softbank Vision Fund and Elevation Capital (formerly SAIF Partners) hold almost 20% stake each in the entity. It is in the final stages to appoint bankers and is in talks with Axis Capital, ICICI Securities, and SBI Capital Markets, along with JP Morgan, CitiGroup and Morgan Stanley, to kickstart the IPO process. The company is expected to take a qualified institutional buyers (QIB) route to list, where it will raise primary funds from a fresh issue of shares to QIBs, as per norms of the Securities and Exchange Board of India (Sebi), sources told Mint. Last week, Mint first reported that the company was looking to raise $1billion-$1.5 billion as part of the primary share sale, during its initial public offering (IPO) worth at least $3 billion. As per a regulatory filing by One97 Communications (OCL), about 20 more employees have converted their ESOPs into a total of 5,45,735 shares. The company, which is gearing up for its public debut by November-end this year, is expected to file its draft red herring prospectus (DRHP) by July, and conduct investor roadshows by August for its pre-IPO fundraise. New Delhi: Digital payments and financial firm Paytm has received over 5.45 lakh shares from around 20 more employees for monetisation in its upcoming IPO. Septem/ 07:33 AM IST A general view of Paytm's office Mobile payments firm Paytm is looking to turn its payment aggregator business into a new subsidiary Paytm Payments Services. IPO-bound Snapdeal ties up with BOB Financial to launch Rupay Credit. In January, this year, Paytm founder Vijay Shekhar Sharma had given guidance that the company could potentially look to break even in 2021, with profitability in sight. Paytm Payments Bank becomes most preferred UPI beneficiary bank: Paytm Payments. "Despite a significant disruption in the business of our merchant partners due to the ongoing pandemic, especially in the first half of the year - we have had a minimal impact on revenues, due to strong recovery in the second half of the year," said a Paytm spokesperson, replying to Mint’s queries.Īs Paytm reduces burn, its losses continue to be a matter of concern during its listing process. ![]()
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