Bangalore Top US asset manager BlackRock and Japanese financial services conglomerate Nomura are in talks to invest in a planned initial share sale of digital payments firm One97 Communications Ltd. PaytmTwo people with knowledge of the matter told.
“Paytm Over the past month the investor has been holding roadshows and soliciting bids from anchor investors for valuations of about $20 billion to $22 billion. It is in talks with BlackRock and Nomura for investment, and the IPO is expected to launch by November after SEBI approval,” said one of the people requesting anonymity.
Paytm spokesperson and Nomura declined to comment. BlackRock did not respond Mintof questions.
Paytm had filed its draft prospectus with the market regulator in July, seeking approval for a ₹16,600 crore IPO. India’s second most valuable startup is planning to sell fresh shares ₹Selling second value shares with 8,300 crore existing investors ₹8,300 crore through IPO.
Sovereign Wealth Fund Abu Dhabi Investment Authority and Singapore-based GIC Pte are other investors looking to invest in IPOs, bloomberg informed of.
Paytm has said in its draft prospectus that it will use ₹Fresh issue of Rs 4,300 crore to enhance its existing business and acquire new merchants and customers. It was also looking to increase the size of the IPO based on investor feedback. Mint previously reported.
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