Demand for Paytm's shares peak in India's unlisted market as company files for IPO

One97 Communications Ltd., which operates brand Paytm, today filed its draft paper with the market regulator Securities and Exchange Board of India (SEBI) for its initial public offering of up to 16,600 crore ($2.2 billion). The IPO will include an issue of new shares worth 8,300 crore and an offer for sale (OFS) worth 8,300 crore.

As per market observers, Paytm shares in the unlisted market have seen a strong demand post today’s update on its IPO front. ”In the unlisted market, shares of Paytm is in high demand, company share price has increased from 1,000 before the news of IPO to 2,500 as per the market reports. We have a positive outlook for the Paytm IPO,” Yash Gupta, Equity Research Associate, Angel Broking Ltd said.

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