Paytm, a digital payment firm is supposed to seek shareholders’ approval to raise up to Rs 16,600 crore in the extraordinary general meeting of Paytm which is scheduled on 12th July, 2021.
According to the source, the company may seek approval to raise up to Rs 12,000 crore through issuing fresh equity. Whereas, Rs 4,600 crore is expected to be raised from the sale of equity shares by existing and eligible shareholders.
“The company may seek approval of the shareholders to raise around Rs 16,600 crore through IPO. Existing shareholders, former and present employees have also opted to sell their shares in the process. The valuation of the firm is likely to be in the range of Rs 1.78 lakh crore to Rs 2.2 lakh crore,” the source said.
With this valuation range, the company is expected to be among top 10 listed financial services companies. The company is expected to file documents for the initial public offer (IPO) next week.