Paytm raises over Rs 8,000 crore from anchor investors
Startup News India: Paytm raises over Rs 8,000 crore from anchor investors.
Paytm has raised Rs 8,235 crore from anchor investors as part of its initial public offering of Rs 18,300 crore. Top sovereign wealth funds and financial investors such as Singapore’s GIC, Canada’s CPPIB, BlackRock, Alkeon Capital, Abu Dhabi Investment Authority are among those to have picked up a stake in the fintech major’s parent One97 Communications’ anchor slot.
The round was oversubscribed 10 times by 74 investors, according to people privy to the development. While Blackrock invested Rs 1,045 crore, CPPIB and GIC invested Rs 938 crore and Rs 533 crore, respectively.
Paytm’s IPO is slated to open on November 8 and can shut on November 10.