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Startup Street: Paytm IPO issue size likely to be raised; Dehaat on mission to build India’s largest agritech platform
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Startup Street: Paytm IPO issue size likely to be raised; Dehaat on mission to build India’s largest agritech platform
Oct 27, 2021 12:17 PM

Paytm IPO, which was already touted as the biggest so far, is set to get bigger. Four days after receiving market regulator Sebi's approval, Paytm is planning to increase the issue size of its initial public offering (IPO).

The company is likely to launch its IPO on November 8 and is targeting a price band of Rs 2080-2150. It is looking at a valuation of $20 billion, sources told CNBC-TV18. The firm was last valued at $16 billion.

Paytm is set to raise its IPO issue size to Rs 18,300 crore from the earlier Rs 16,600 crore. The new total IPO size will entail a primary issue of Rs 8,300 crore, which remains unchanged, and a larger secondary issue of Rs 10,000 crore.

Company sources say the secondary issue was raised due to increased investor interest. Roughly half of the offer for sale (OFS) is going to be by Ant Financial, which holds close to 30 percent stake in Paytm and has to bring it under 25 percent to comply with Sebi's rules for professionally managed companies. The remaining OFS will see participation from Alibaba, Elevation Capital, Softbank and other existing shareholders, sources said.

Meanwhile, about 60-70 percent of the total money raised by Policybazaar parent company PB Fintech in the last 13 years is still in the bank, the company management said. This, even as the company is set to tap the public markets to raise money via an IPO that will launch on November 1.

CNBC-TV18 caught up with PB Fintech’s CEO Yashish Dahiya and CFO Alok Bansal who spoke about the company's valuation post IPO.

On the other hand, on a mission to build the world's largest agritech platform, Dehaat has bagged $115 million in a Series D funding round led by Belgium Investment Firm Sofina and Lightrock Ventures. The startup also saw Temasek co-invest in this round along with participation from existing investors. To talk about how the company plans to deploy its funds and the growth outlook, CNBC-TV18 spoke to Shashank Kumar, co-founder and CEO, Dehaat.

Most parents want to give healthy food to their kids but often don't have ready options. This week on 'boost with Facebook', in association with Startup Street, a startup promises to wean families off junk food and replace it with high-quality snacks.

Founded by Ahana Gautam and Udit Kejriwal, Open Secret is targeting the children's snacking segment. The brand claims its un-junking India, one snack at a time and Ahana Gautam tells us how.

For the full interviews, click on the video

Click here for all the other Startup related news and updates

(Edited by : Kanishka Sarkar)

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