Paytm IPO: One97 calls EGM on July 12 to approve Rs 12,000-crore fund raising plan

#IPO - News, #PayTm

Representative Image (Image: Reuters)

One97 Communications which owns and operates online payments firm Paytm has called an extraordinary general meeting (EGM) on July 12 to seek approval to raise Rs 12,000 crore through fresh issue of shares during its initial public offering (IPO).

The company will also decide if founder and chief executive Vijay Shekhar Sharma can be declassified as the promoter.

Besides deciding on the total number of equity shares that need to be reserved for allocation to eligible categories of investors, amendments to the Employees Stock Options Scheme is also on the cards.

The company will also consider the revision of the Articles of Association (AOA).

Paytm had received in-principle approval from its board to go for a $3 billion initial public offering (IPO), making it the biggest in India’s history a few weeks ago.

The proposed IPO is likely to have a combination of fresh issues of equity shares as well as an offer for the sale of equity shares by existing shareholders of the company.

Among Paytm shareholders, Alibaba’s Ant Group has 29.71 percent of its shares, while Softbank Vision Fund, Saif Partners, and Vijay Shekhar Sharma consist 19.63 percent, 18.56 percent, and 14.67 percent shares, respectively.

News Related


Paytm founder to have protective rights after listing

Vijay Shekhar Sharma, chief executive officer of Paytm, will have ‘protective rights’ to appoint one member to its board as long as he owns 2.5% equity in the company he ... Read more »

Unacademy announces Teacher Stock Options for its educators

Online learning firm Unacademy is planning to give stock options to educators on its platform, meant to motivate them and retain quality talent for the SoftBank-backed company. “We are announcing ... Read more »

Crypto startup Vauld raises money from Peter Thiel fund, others

Representative image. Vauld, which wants to be a bank for cryptocurrency holders, said on July 29 that it has raised $25 million in Series A funding led by Valar Ventures- ... Read more »

25% more sellers became crorepati compared to last year during Prime Day sales: Amazon

Source: Twitter/@AmazonNews_IN E-commerce firm Amazon on July 29 said there was a 25 percent rise in sellers who reported gross sales exceeding Rs 1 crore during the two-day Prime Day event ... Read more »

Online purchases without permission by kids increased during pandemic: Olx report

Representative image Online purchases by kids without parental permission increased during COVID-19, with 75 percent of the 1,500 parents surveyed for the 2020-21 Olx National Parenting Day study across India ... Read more »

Glenmark Life Science IPO or Rolex Rings: Here's which one you should pick according to analysts

The IPO frenzy among investors is at it peak with retail investors leading from the front. Initial public offerings of two companies are currently open for subscription –  Glenmark Life Sciences and Rolex Rings. ... Read more »

BharatPe to raise $350 million for $2 billion valuation, on path for ‘unicorn' status: Report

Tiger Global itself will invest $100 million in BharatPe with participation from exiting investors such as Amplo, Beenext, Insight Partners, Sequoia Capital and Steadview Capital among others Tiger Global Management ... Read more »

Bans, stock collapses and policy overhaul: China's tech crackdown, explained

Investors are shocked worldwide. Company executives are still grasping the full extent of what has happened. The Chinese government’s crackdown was best described by author Ernest Hemingway when he described ... Read more »

A marriage doesnt happen in 2 weeks: Kalaari's Vani Kola on why she isn't rushing to close deals

At a time when investors are constantly living under the fear of missing out and closing multi-million dollar deals at breakneck speed, Vani Kola, managing director of venture capital firm ... Read more »

SEBI mulls IPO reforms on book building, price band aspects

Markets regulator SEBI is contemplating reforms in the IPO norms, especially on the book building, fixed price aspects and certain provisions pertaining to price band, its chief Ajay Tyagi said on ... Read more »

Kalaari Capital launches $10 million fund for women entrepreneurs, CEOs

Kalaari Capital through its initiative CXXO has launched a $10 million fund to invest in startups that have women entrepreneurs and chief executives with an aim to level the playing field ... Read more »

Amazon files petition in SC against Karnataka HC order allowing CCI probe

In the four-page letter, a so-called ‘show cause notice’, the CCI asked Amazon why it should not take action and penalise the company for providing false information. (File Image) A ... Read more »

Droom joins unicorn club with fresh capital; plans to go public by 2022

Droom Founder and CEO Sandeep Aggarwal Automotive startup Droom has raised a fresh round of funding taking its valuation to $1.2 billion as it targets an initial public offering (IPO) ... Read more »

Unicorn Gupshup raises $240 million from Fidelity, others

Rohin Parkar, Co-Founder and CEO at Spintly said these funds will be used for marketing and research aimed at enhancing position in the wireless cloud access control technology space and ... Read more »

Messaging startup Gupshup raises $240 million for share buy-back

Representative image Gupshup, a Silicon Valley messaging startup with a focus on India, on Wednesday said it raised $240 million from Tiger Global Management and others to buy back shares ... Read more »

Freshworks, Eka Software founders launch Together, a $85 million VC fund for SaaS startups 

Some funds have held internal meetings where Tiger’s strategy, or seemingly the lack of one- has dominated discussions. Freshworks founder Girish Mathrubootham and Eka Software founder Manav Garg said on ... Read more »

Trifecta Capital announces first close of Rs 1,500-crore late-stage fund

Mumbai: Within three months of launching a late-stage fund, venture debt firm Trifecta Capital has announced the first close at Rs 1,000 crore ($130 million) with the domestic portion oversubscribed. ... Read more »

Ixigo raises $53 million led by Singapore's sovereign wealth fund GIC

Online travel app Ixigo has raised $53 million (Rs 395 crore) from investors led by Singapore sovereign wealth fund GIC , ahead of its proposed initial public offering, according to ... Read more »

Flipkart moves Supreme Court to seek relief from CCI's investigation

Walmart-owned Flipkart has moved the Supreme Court to seek relief from an investigation from the Competition Commission of India (CCI) after the division bench of the Karnataka High Court dismissed ... Read more »

Tatva Chintan IPO shares trade at more than 100% premium in grey market ahead of listing

Specialty chemical company Tatva Chintan Pharma Chem shares traded at more than 100 percent premium in the grey market on July 27, ahead of listing later this week. The stellar ... Read more »

Grofers forays into instant delivery, delivers to 7,000 households within 15 mins

Albinder Dhindsa, Co-founder and CEO, Grofers Announcing the company’s foray into instant delivery, Albinder Dhindsa = the co-founder and chief executive of online grocery delivery firm Grofers  – said on July 27  ... Read more »

ShareChat raises $145 million from Temasek, Mirae, others at near $3 billion valuation

ShareChat was launched by three IIT Kanpur alumni- Sachdeva, Farid Ahsan and Bhanu Singh in 2015 Indian social network ShareChat on July 27 said its parent has raised $145 million ... Read more »

A wealth manager's perspective on how HNIs invest in IPOs

Global equity markets have bounced back strongly over the last 15 months following the sharp sell-off in February-March 2020. The rally has been largely fuelled by excessive liquidity resulting from ... Read more »

Trifecta Capital announces close of first tranche of equity fund, raises $130 million

Representative image Trifecta Capital has announced the first close of its late-stage venture capital fund Trifecta Leaders Fund I raising $130 million with participation from domestic investors including large corporates, insurance companies, ... Read more »

Want to IPO in 12-18 months, going public is a big aspiration: Byju Raveendran

Byju Raveendran What is Byju’s? Depending on whom you ask, answers range from a venture capital fund, a private equity fund, a proxy for the government’s education policy (or lack ... Read more »

Exclusive | China ed-tech crackdown will benefit India the most: Byju Raveendran

Byju Raveendran What is Byju’s? Depending on whom you ask, answers range from a venture capital fund, a private equity fund, a proxy for the government’s education policy (or lack ... Read more »

Tatva Chintan IPO share allotment: Here's how to check your application status

The specialty chemicals company Tatva Chintan Pharma Chem‘s Rs 500-crore public issue received overwhelming response from investors as it was oversubscribed by 180.36 times during July 16-20, the second highest ... Read more »

ESAF Small Finance Bank files DRHP, to raise Rs 998 crore via IPO

ESAF Small Finance Bank has filed the draft red herring prospectus (DRHP) with the capital market regulator Sebi to raise funds via an initial public offering. The company is planning ... Read more »

Fintech firms set for IPOs but face challenges

India’s fintech sector is set for landmark Initial Public Offerings (IPOs) in the next five months as at least three startups – Paytm, Mobikwik, Policybazaar – are likely to raise ... Read more »

Paytm looking to launch Rs 16,600-crore IPO by October

Representative image Digital payments and financial services firm Paytm wants to hit the market with its Rs 16,600 crore IPO at the earliest and very likely by October, sources said ... Read more »

Glenmark Life Sciences mobilises Rs 454 crore from anchor investors ahead of IPO

Glenmark Life Sciences on Monday said it has raised Rs 454 crore from anchor investors ahead of its initial share sale, which opens for public subscription on Tuesday. The company ... Read more »

IPO Buzz | Carwale owner CarTrade Tech gets SEBI approval for Rs 2,000 crore public listing

Representative image Online auto classifieds platform CarTrade Tech has received the regulatory approval from Securities and Exchange Board of India (SEBI) to float Rs 2,000 crore via the initial public ... Read more »

Aptus Value Housing gets SEBI approval for up to Rs 3,000 crore IPO

Representational image Aptus Value Housing Finance has received market regulator Securities and Exchange Board of India (SEBI)’s nod for the initial public offering (IPO). The housing finance company had filed ... Read more »

IPO party continues as six more firms get SEBI's go-ahead; here're the details

As many as six companies including Aptus Value Housing Finance, CarTrade Tech, and Supriya Lifescience have received capital markets regulator SEBI’s go-ahead to float initial share-sales. The other firms that ... Read more »

Exclusive | China ed-tech crackdown will benefit India the most: Byju Raveendran

What is Byju’s? Depending on whom you ask, answers range from a venture capital fund, a private equity fund, a proxy for the government’s education policy (or lack of it), ... Read more »

Nykaa converts into public company ahead of IPO, renamed FSN e-commerce Ventures Ltd

Nykaa E-Retail Pvt. (PC- Nykaa Website) Ahead of its initial public offering (IPO), lifestyle e-commerce firm Nykaa has converted into a public entity. The stakeholders of the company have passed ... Read more »

Paytm eyes IPO by end of October, hopes to break even in 18 months

New Delhi: Paytm expects to launch its initial public offering (IPO) at around the end of October, pending regulatory approvals, a source familiar with the matter said on Monday. The ... Read more »

Nykaa changes status to public company ahead of IPO filing

Mumbai: Nykaa has changed its status from a private company to a public one ahead of its planned initial public offering (IPO), regulatory filings sourced through Tofler show. In doing ... Read more »

Exclusive | E-commerce Consumer Protection notification likely by August 20

The government is expected to notify consumer-protection rules for e-commerce by the end of August, after the current session of Parliament, according to sources privy to the development. Last week, ... Read more »