Digital payments company Paytm has announced that it will bring initial public offer (IPO) worth USD 3 billion later this year. According to Live Mint, Paytm's stock has risen from ₹11,500 to ₹21,000 in four days in the grey market. Last week, Paytm's board gave in-principle approval to raise USD 3 billion (around ₹22,000 crore) through the IPO during the October-December quarter this year. Paytm shareholders include Alibaba's Ant Group (29.71 per cent), Softbank Vision Fund (19.63 per cent), Saif Partners (18.56 per cent), Vijay Shekhar Sharma (14.67 per cent). In April, food delivery platform Zomato filed preliminary papers for an IPO with capital market regulator Sebi to raise USD 1.13 billion (approximately ₹8,250 crore).

Source: Hindustan Times June 01, 2021 11:16 UTC