Paytm raises Rs 8,235 crore from anchor investors

By

Maverick Martins

Published
Nov 5, 2021

One97 Communication, the parent firm of Paytm, has raised Rs 8,235 crore ($1.1 billion) from anchor investors at a price of Rs 2,149 per share ahead of its initial public offering (IPO).
 

Among the leading investors who participated in this round include top sovereign wealth funds and financial investors like GIC of Singapore, CPPIB of Canada, BlackRock, Abu Dhabi Investment Authority, among others.
 
Paytm will open subscription from November 8 to 10 and aims to raise Rs 18,300 crore from the public issue.

The IPO is expected to be India’s largest market debut for a business to date as its valuation is around Rs 1.47 lakh crore.
 
The business filed its official papers for the IPO in July and plans to use the funds from the IPO to strengthen its payments ecosystem.
 
Paytm claims it had around 333 million consumers and 21.1 million merchants as of March 31, 2021. In the financial year 2021, the company reported a gross merchandise value of Rs 4 lakh crore.