Paytm drafted an IPO of Rs 16,600 crore

Paytm has drafted an IPO of Rs 16,600 crore. As soon as Zomato’s IPO closed, Paytm opened its IPO.

Despite the support of companies like Alibaba, Ant Group, Softbank, and Berkshire Hadave, Paytm is trying to raise Rs 12,000 crore from the primary market and the rest from the secondary market.

According to the draft, JPMorgan Chase, Morgan Stanley, ICICI Security, Goldman Sachs, Axis Capital, Citi, and HDFC Bank are the book-running managers of Paytm IPO. Paytm is also called WAN97 Communication.

Last Monday, shareholders of Paytm approved the use of IPO to raise money. This is India’s largest public offering for an IPO.