The board of One 97 Communications Ltd will allot about 2.6 million shares to the investors, financial data accessed by business intelligence platform Tofler dated Dec. 12 showed.

This is part of SoftBank-backed Paytm's $1 billion fund raising last month from the Japanese tech investment giant and other backers such as Ant Financial and T Rowe Price Associates, which valued the company at $16 billion.

Paytm did not immediately respond to a request for a comment on the latest funding.

(This story corrects paragraph 3 to say this fund raising is part of the $1 billion fund raising Paytm announced last month [not the company's second fund raising since last month)

(Reporting by Derek Francis in Bengaluru)