The ₹18,300-crore initial public offering (IPO) by One97 Communications, the parent firm of Paytm, will open on November 8, valuing the company at close to $20 billion.
The company has fixed a price band of ₹2,080 to ₹2,150 per equity share for the offer, which will close on November 10. The IPO, the largest since 2010 when state-owned Coal India raised ₹15,475 crore, comprises issuance of fresh equity shares worth ₹8,300 crore and offer for sale by existing shareholders of ₹10,000 crore.
Paytm has increased its IPO issue size from the earlier ₹16,600 crore following increased investor demand.