Many of Paytm’s main sponsors, including businessman Ratan Tata, Alibaba, SoftBank and Berkshire Hathaway, want to sell at least part of their shares to fintech’s first public domain recording (IPO) company, expressed its hope.
Paytm wants to raise $ 16,600 million, of which $ 8,300 million will be available to investors who sell their stakes, the installation said.
Its main investors include Alibaba China, which is 36.8 percent, followed by the SasBoshi Vision Fund led by Masayoshi Son, which owns 19.6%. SAIF Partners (now Elevation Capital) also accounted for 17.2 percent of total revenue.
The payment of Paytm did not specify what funds the investors would seize, although it said founder Vijay Shekhar Sharma also planned to sell the 14.6 per cent he owned.
A few days ago, Sharma transferred 5 per cent of her shares to VSS Holdings Trust, an investment vehicle she launched last year, according to the audit.
Tata party chairman Emeritus Ratan Tata, who took over a small stake in Paytm in 2015, is also selling his stake. Tata owns 75,000 shares, making up less than 0.5 percent of the current company. Tata’s post “ignored”, said the installation.
The $ 2.2 billion Paytm IPO will surpass Coal India, which raised Rs 15,200 crore in 2010 and has been the largest Indian community contribution to date. Alibaba is expected to sell most of its stake, bring its stake to less than 25 per cent and help Paytm secure a ‘Professional Management Company’ (PMC) position. The PMC requires all shareholders to have less than 25 percent, reports Moneycontrol on July 15.
“Public markets have never been this happy, and it is a great opportunity for all Paytm investors to make a lot of money. Many of them were unsure of where the company would fit in a few years back. So it makes sense that they will sell, ”said a person close to the company, who requested anonymity.