Paytm to raise $1.1 bn from anchor investors
By MYBRANDBOOK
One97 Communications Ltd, the parent company of Paytm, is expected to raise $1.1 billion from anchor investors as a part of its $2.4 billion initial public offering. The company’s anchor round is expected to be closed on 3 November.
Some other established investors are expected to make their first investment in India by participating in Paytm’s public offering. The investment will be made through their tech-focused funds. Paytm has increased its issue size to ₹18,300 crore from ₹16,600 crore earlier last month.
There are a number of investors who want to subscribe to our entire anchor portion. We have money in the bank and are getting more customers and merchants at lower costs. We are positive that we will attract long-term shareholders and investors who will understand that the real value in Paytm is not about quarter-on-quarter profit delivery but on the long term change it brings," said Vijay Shekhar Sharma, founder, chairman and managing director, One97 Communications Ltd, in a 29 October interview.
Paytm plans to use ₹4,300 crore of the IPO proceeds to grow its existing business lines and acquire new merchants and customers. It has no immediate plans to invest in overseas markets. “International is something we will be focusing on, once we feel the India market is matured enough," Sharma said.
Paytm has expanded beyond digital payments into banking, credit cards, financial services and wealth management. It also supports India’s financial payments backbone, the Unified Payments Interface or UPI.
TAC Security becomes Cyber Security Assessor for the App Defen
The cybersecurity company, TAC Security has been selected as a key Cyber ...
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
LAVA INTERNATIONAL LTD.
BEETEL TELETECH LTD.
NETWEB TECHNOLOGIES INDIA LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
Technology Icons Of India 2023: Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla’s return to Vodafon...
Technology Icons Of India 2023: C P Gurnani
CP Gurnani (popularly known as ‘CP’ within his peer group), is the...
Technology Icons Of India 2023: Mukesh D. Ambani
An Indian billionaire businessman Mukesh Dhirubhai Ambani is currently...
CERT-IN protecting the cyber security space of India
CERT-In serves in the area of cyber security threats like hacking and ...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...