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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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India's Paytm seeks to raise $268 million in pre-IPO share sale-source

07/12/2021 | 09:45am EDT
The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture

NEW DELHI (Reuters) - Indian digital payments firm Paytm is planning to raise $268 million in a funding round as it prepares for an initial public offering later this year, a source directly aware of the matter said on Monday.

Paytm will also seek to issue 83 billion rupees worth of new shares and its backers Alibaba and SoftBank will have the option to sell another 83 billion rupees in stock, said the source, who declined to be named as the discussions are not public.

Paytm's parent, One97 Communications Ltd, will file a draft prospectus shortly after its extraordinary general meeting on Monday for a domestic IPO that seeks to raise $2.3 billion, sources previously told Reuters.

That would make Paytm's IPO India's third-biggest in dollar terms after state-run miner Coal India in 2010 and Reliance Power in 2008.

The company won shareholders' approval at the EGM to raise capital and to sell up to 120 billion rupees in new stock, the source added.

Paytm did not immediately respond to a request for comment.

Paytm has hired JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank for the IPO, Reuters previously reported.

The pre-IPO funding round was first reported by Bloomberg.

(Reporting by Sankalp Phartiyal. Editing by Euan Rocha and Jane Merriman)

By Sankalp Phartiyal


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 2.43% 160.05 Delayed Quote.-31.23%
AXIS CAPITAL HOLDINGS LIMITED -1.18% 45.99 Delayed Quote.-7.64%
COAL INDIA LIMITED -3.45% 156.7 Delayed Quote.15.69%
HDFC BANK LIMITED 1.42% 1582.15 End-of-day quote.10.15%
ICICI SECURITIES LIMITED -2.48% 735.6 End-of-day quote.58.98%
JPMORGAN CHASE & CO. -0.26% 157.68 Delayed Quote.24.41%
MORGAN STANLEY -0.70% 101.75 Delayed Quote.48.48%
RELIANCE POWER LIMITED -2.28% 13.72 End-of-day quote.304.72%
SOFTBANK GROUP CORP. 1.82% 6661 End-of-day quote.-17.34%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 54 906 M 54 906 M
Net income 2022 1 310 B 11 906 M 11 906 M
Net Debt 2022 14 983 B 136 B 136 B
P/E ratio 2022 9,15x
Yield 2022 0,66%
Capitalization 11 411 B 104 B 104 B
EV / Sales 2022 4,37x
EV / Sales 2023 4,14x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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Technical analysis trends SOFTBANK GROUP CORP.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 661,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 57,8%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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