Vijay Shekhar Sharma dances his coronary heart out after Sebi approves Paytm IPO. Watch
New Delhi: Market regulator Securities and Change Board of India (SEBI) just lately authorised Fintech firm Paytm’s Rs 16,600 crore preliminary public provide (IPO). Celebrating the event, Paytm’s CEO Vijay Shekhar Sharma was apparently seen dancing his coronary heart out at what seems the corporate’s premises.
RPG Group’s chairman Harsh Goenka shared a video of Paytm’s Sharma dancing on a well-liked Bollywood quantity ‘Apni to jaisi taise’, celebrating SEBI’s nod of approval. “Scenes at Paytm workplace after SEBI approves certainly one of India’s largest IPOs,” Goenka had mentioned in his tweet.
Within the video shared by Goenka, Sharma was seen having fun with the joyous second along with his Paytm colleagues who had been additionally celebrating the large second for the corporate.
For the unversed, Paytm had obtained the market regulator approval for its Rs 16,600 crore IPO on October 22 (Friday). The corporate is predicted to record on the Indian bourses forward of Diwali. Experiences recommend that the corporate might record by the tip of October, because it plans to skip the pre-IPO share sale rounds to fast-track itemizing.
Paytm’s $2.2 billion IPO— break up equally between recent issuance of shares and secondary share sale (provide on the market or OFS) — is billed as one of many largest IPOs in India.
Earlier stories steered that a number of sovereign wealth funds and monetary traders such because the Abu Dhabi Funding Authority (ADIA), Singapore’s GIC, and BlackRock have proven curiosity in becoming a member of Paytm’s preliminary public providing (IPO).
Aside from founding shareholder Vijay Shekhar Sharma, current shareholders who will tender their shares within the OFS embody Antfin (Netherlands) Holding B.V., Alibaba.Com Singapore E-Commerce Personal Restricted, Elevation Capital V FII Holdings Restricted, Elevation Capital V Restricted, SAIF III Mauritius Firm Restricted, SAIF Companions India IV Restricted, SVF Panther (Cayman) Restricted and BH Worldwide Holdings.
On the present concern dimension, this would be the largest IPO in India thus far, surpassing the Rs 15,199.44 crore concern of state-owned Coal India in 2010.
Paytm had clocked income of Rs 3,186 crore for FY 20-21 vs Rs 3,540 crore within the earlier 12 months. It narrowed losses to Rs 1,701 crore throughout the identical interval from Rs 2,942 crore within the earlier 12 months.