Paytm to Ask Shareholder Nod for $1.6 Billion Sale of New Stock
- India digital payments startup preparing to raise funds in IPO
- Shareholder meeting to approve IPO is slated for July 12
A sign for PayTM online payment on the front windscreen of an auto rickshaw in Bengaluru, India.
Photographer: Dhiraj Singh/Bloomberg
This article is for subscribers only.
Digital payments startup Paytm will ask for shareholder permission to sell about $1.6 billion in new stock as part of what’s set to be India’s largest-ever initial public offering.
The company wants to sell 120 billion rupees ($1.61 billion) in new shares plus a potential 1% for over-allotment, the company said in a notice for an extraordinary shareholder meeting scheduled for July 12 in Delhi.