India: SoftBank-backed Paytm files draft papers for $2.2b IPO

Photo: Reuters

SoftBank-backed Indian digital payments startup Paytm has filed for an initial public offering (IPO) of up to 166 billion rupees ($2.23 billion), draft papers submitted to the country’s market regulator showed on Friday.

The IPO will include an issue of new shares worth 83 billion rupees and an offer for sale worth 83 billion rupees, Paytm, which is backed by investors including Berkshire Hathaway Inc, China’s Ant Group and Japan’s SoftBank, said.

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