Paytm set to raise $268 million in pre-IPO funding
Published on Jul 13, 2021 12:08 AM IST
The pre-IPO funding round is part of OCL’s primary fundraise that will be done through a fresh issue of shares.
Tarush Bhalla, Bengaluru
Paytm’s parent One97 Communications Ltd (OCL) is in talks with several investors to raise $268 million ahead of its planned public listing on the domestic exchanges by November, said three people aware of the discussions.
It will look to tap institutional investors and sovereign funds for the fundraise, one of the three people cited above said, requesting anonymity.
The pre-IPO funding round is part of OCL’s primary fundraise that will be done through a fresh issue of shares.
On Monday, shareholders approved at an extraordinary general meeting (EGM) the plan to raise up to ₹12,000 crore through a fresh issue of shares.
