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Warren Buffett-Backed Paytm Set to Raise $2.5 Billion in India’s Largest IPO

The dad or mum of Indian mobile-payments massive Paytm on Wednesday collected ample investor bids to carry the equal of $2.5 billion inside the nation’s largest-ever preliminary public offering, nevertheless the much-hyped deal didn’t go as simply as totally different newest tech IPOs.

Paytm’s proprietor, One97 Communications Ltd., initially of this week launched a three-day stock offering to small and big merchants in India. The company earlier agreed to advertise $1.1 billion of its IPO shares to so-called anchor merchants that included the Teacher Retirement System of Texas, the sovereign wealth funds of Singapore and Abu Dhabi and funds managed by BlackRock Inc. and Vanguard Group.

https://www.wsj.com/articles/warren-buffett-backed-paytm-set-to-raise-2-5-billion-in-indias-largest-ipo-11636558320?mod=rss_markets_main | Warren Buffett-Backed Paytm Set to Improve $2.5 Billion in India’s Largest IPO

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