Paytm extends deadline for registering to sell shares ahead of IPO

By

Isabelle Crossley

Published
Jun 25, 2021

Digital payments and e-commerce business Paytm has extended its deadline for shareholders, employees, and former employees to state if they wish to sell their shares, ahead of its planned initial public offering.

Paytm, which is preparing for its IPO, has given its shareholders until June 30 to submit their documents stating they wish to sell their shares, ET Bureau reported. One 97 Communications, which runs Paytm, plans to include a fresh issue of equity shares and an offer-for-sale of equity shares by the existing shareholders of the company in its IPO.
 
“In the interest of providing additional time to our shareholders, due to the on-going situation, to process all the documentation shared and dispatch them to us, we are extending the last date to submit documents for participation in the Offer from June 22, 2021 to June 30, 2021,” the business wrote in a notice to its shareholders, the Press Trust of India reported. 

The business will hold an Extraordinary General Meeting on July 12 to seek the go-ahead from its shareholders for issuing fresh equity shares in the IPO. Paytm counts the Softbank Vision Fund, Ant Group, and Saif Partners, among others, as investors.