While filing its draft prospectus earlier in July this year, Paytm said it was targeting an issue size of ₹16,600 crore (roughly $2.2 billion), which included the sale of new shares worth ₹8,300 crore. Paytm is now expected to increase the secondary share sale from existing investors to ₹10,000 crore as a part of the increased IPO size. The primary portion of the fresh share issue will remain unchanged, the people cited above said on condition of anonymity. Mint reported on 23 October that the company could look to list on the Indian bourses by mid-November. Investment banks, including Morgan Stanley, Goldman Sachs Group Inc., Citigroup Inc. and ICICI Securities Ltd, are managing the share sale.

Source: Mint October 27, 2021 00:04 UTC