New investors join the list of bidders who are in talks to invest PaytmAnchor investment as well as its IPO.
ET reported last week that Canada’s cppib
Negotiations are on with Noida-based payments firm Anchor Investment Slots, sources confirmed.
In addition to new investors, funds from Europe have also shown interest in its $2.2 billion IPO.
Billed as one of the nation’s biggest public issues in more than a decade.
A person with knowledge of the matter said, “Some European funds looking to invest in Ant Group’s IPO, which was later canceled by the Chinese government, have also partnered with Paytm due to the boom in digital payments in India.” negotiated.”
“Alken is in talks with Paytm and is looking at anchor allotment as well as taking shares during the IPO. While valuations are yet to be finalized, they are receiving strong interest from institutional investors from the United States and Europe,” said the person.
A Paytm spokesperson declined to comment.
Paytm is awaiting final approval for the IPO from the Securities and Exchange Board of India.Self) and its ongoing talks with investors indicate a valuation of $20-$24 billion.
Industry sources said $24 billion may still prove to be an aggressive estimate, but Paytm is indicating expectations of a valuation of around $20-$22 billion.
the company was
Its final value was $16 billion after raising $1 billion from investors such as T. Rowe Price. and existing ones such as Japan’s SoftBank and Ant Group.
Sources said Paytm is expecting the regulator’s approval soon and is racing to become a publicly listed entity before Diwali, which falls on November 4.
Last week, ET reported that sovereign wealth funds and financial investors such as Abu Dhabi Investment Authority, Singapore’s GIC and BlackRock
In talks to invest in Paytm as anchor investors.
Paytm had also put in place a window for a pre-IPO round of around $270 million or Rs 2,000 crore, but that is unlikely now, said sources aware of the current thinking at Paytm.
The IPO is divided equally between a fresh issue of shares and a secondary share sale (offer for sale or OFS). Paytm founder Vijay Shekhar Sharma, SoftBank, Ant Group and Elevation Capital have been listed as the selling shareholders, who will sell a part of their stake in the company in the OFS.
of paytm
The draft red herring prospectus had said that 75% of its public issue would be earmarked for qualified institutional buyers (QIBs)., while 15% is for non-institutional investors and the remaining 10% for retail investors. Up to 60% of the QIB share can be allocated to anchor investors.
online food delivery firm
Zomato made a great start in the stock markets in JulyPaytm’s IPO is being seen as the next big moment for the startup ecosystem.
SEBI is believed to have sent queries to the company and Paytm also returned them. Window open for SEBI to receive additional comments.