Roehl Niño Bautista · · 1 min readAnt-backed Paytm raises $1.1b in IPO anchor round
“Paytm has raised 82 billion rupees (US$1.1 billion) from anchor investors as part of its initial public offering of 183 billion rupees (US$2.5 billion),” reported The Economic Times, citing sources.
Details:
- The Ant-backed fintech firm’s anchor round was led by BlackRock, Canada Pension Plan Investment Board, and GIC, which collectively invested 25 billion rupees (US$335.6 million).
- The round was oversubscribed by 10x, with 122 funds putting in bids to the India-based company’s IPO, sources said.
Dive deeper:
- Paytm’s IPO is set to open on November 8 and close two days later.
- The development comes amid strong business momentum for the fintech firm, with 62% growth recorded in the first quarter of its fiscal year ending in March 2022.
Currency converted from Indian rupee to US dollar: US$1 = 74.51 rupees.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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