Digital payments and e-commerce business Paytm has officially filed for an initial public offering of up to Rs 16,600 crore ($2.23 billion) and plans to use the funds to strengthen its payments ecosystem.
Ruffini Partecipazioni, the investment vehicle of Moncler CEO Remo Ruffini, said on Wednesday it had completed the accelerated bookbuilding for the placement of a 3.2% stake at a price of 48.80 euros per share.
The offering of 17,994,117 American Depositary Shares (ADSs) represents 17,994,117 ordinary shares, including the full exercise by the underwriters of their option to purchase 2,347,058 additional ADSs.
Fashion brands and retailers re-opening around the world to patchy demand, and carrying unsold stock from spring have cut fall orders by as much as two-thirds in moves spelling more pain for Asian suppliers.
Facebook will spend $5.7 billion to take just under 10% of Reliance Industries' digital unit, seeking to roll out services for small businesses by capitalising upon WhatsApp's already extensive reach within India.