Paytm raises IPO size to Rs 18,300 cr; Ant to offload shares worth Rs 5K cr

The company is eyeing a valuation of $20-22 billion, sources said

Digital financial services platform Paytm has raised its initial public offering (IPO) size to Rs 18,300 crore from the earlier Rs 16,600 crore, said sources in the know.

Roughly half of the offer for sale (OFS) in Paytm’s IPO, which recently got approval from the Securities and Exchange Board of India (Sebi), will be done by Chinese investor Ant Financial. The OFS size will now inch up to Rs 10,000 crore, which means that Ant Financial will offload shares worth Rs 5,000 crore, sources confirmed.

In the draft red herring prospectus filed by the company, the OFS size was Rs 8,300 crore,