Sina Science and Technology News July 16 evening news, India's largest e-wallet Paytm has now submitted a listing prospectus, taking a key step towards listing. At present, Ant GroupWith a 30 per cent stake in Paytm, Ant Group is expected to sell about 5 per cent of Paytm in order to make Paytm comply with the listing rules.
According to the Paytm prospectus on the website of the Securities and Exchange Commission of India, Paytm has been actively promoting the development of inclusive finance and digital life in Hong Kong in recent years, and has expanded into e-commerce, cloud services and integrated financial services. As of March 2021, 333 million registered users and 21 million merchants have been served.
The funds raised from the IPO will be used to develop Paytm's own digital ecology, including acquiring more customers and merchants, providing more technology and financial services, as well as developing innovative businesses and building strategic partnerships.
At the same time, according to local requirements, generally speaking, the proportion of shares held by a single major shareholder (regardless of country) of Indian listed companies cannot exceed 25%. The offering structure of this issue will include the sale of some old shares and the issuance of new shares. According to foreign media reports, Ant Group is expected to sell about 5 per cent of its shares in Paytm to make it comply with the listing rules. (Wen Meng)