Paytm to file draft prospectus next week for $2.3-bn IPO: Report

Paytm has plans to raise up to Rs 12,000 crore by issuing fresh equity for which it will seek shareholders' nod in an EGM on July 12

One97 Communications Ltd, the parent of Indian payments firm Paytm, will file a draft prospectus as early as July 12 for a domestic initial public offering (IPO) that seeks to raise $2.3 billion, two sources close to the matter said on Monday, Reuters reported.

The money will be raised via sale of new Paytm stock as well as secondary offering of shares at an expected valuation of $24 billion to $25 billion with an option to raise the amount at a later stage if required, the sources said, declining to be named as the matter is not public.

The prospectus