According to industry sources, Paytm’s board has approved a resolution for its proposed initial public offering (IPO) before November 2021.
The company is reportedly aiming to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) by July 2021. Further, it is also evaluating a secondary share sale that could cut stakes of existing investors before the IPO.
The details are not yet final but could possibly include its largest investors. According to industry sources, the transaction could be pro rata, where all major investors could forgo a part of their stakes proportionally. Further, Paytm is reportedly aiming at a valuation of $25-$30 billion.
