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Paytm Said to Have Secured SEBI’s Approval for India’s Biggest IPO

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Paytm Said to Have Secured SEBI’s Approval for India’s Biggest IPO

A source involved in the process said on Friday that the digital financial services company Paytm has received approval from the market regulator SEBI for its 16,600 crore initial public offering. The company is expected to go public at the end of this month, and plans to skip the pre-IPO stock sales round to quickly go public.

“SEBI has approved Paytm’s IPO,” said the source, who asked not to be named. The source added that the company’s shelving pre-IPO financing plan has nothing to do with any valuation differences.

The proposed initial public offering, if successful, will be the largest such offer. Coal of India’s Rs 15,200 crore initial public offering (IPO) in 2010 was the country’s largest public offering (IPO) to date. Advertising by Paytm is valued at 1.47-17.8 billion rupees. American valuation expert Aswath Damodaran is a professor of finance at New York University’s Stern School of Business. He valued the company’s unlisted shares at Rs 2,950 per share.

According to the draft IPO document, the company plans to raise Rs 8,300 crore through newly issued shares and another Rs 8,300 crore through tender offers. Paytm founder, managing director and CEO Vijay Shekhar Sharma and Alibaba Group will dilute some of their shares in the proposed sale. A source said that Antfin (Netherlands) Holding BV, an Alibaba group company, is expected to sell at least 5% of its shares to less than 25% in order to comply with regulatory requirements.

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According to the documents, the investors who sold the shares included Antfin (Netherlands) Holding BV (holding 29.6% of the shares), Alibaba.com Singapore E-Commerce (7.2%) and Elevation Capital V FII Holdings (0.7%). In addition, Elevation Capital V (holding a 0.6% stake), SAIF III Mauritius Company (12.1%), SAIF Partners India IV (5.1%), SVF Panther (Cayman Islands) (1.3%) and BH International Holdings (2.8%) ) Will also sell equity. The company has proposed to use Rs 4,300 crore to develop and strengthen the Paytm ecosystem, including by acquiring consumers and merchants and providing them with more technology and financial services.

News Source: Gadgets360

Hollywood

Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

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Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

Tom Holland, last seen in Apple TV show The Crowded Room last year, has signed his next with Academy Award-winning filmmaker Christopher Nolan.

Tom Holland is going to have a very busy 2025. As per The Hollywood Reporter, the actor has signed Christopher Nolan’s next, which he will juggle the filming of with that of the long-awaited Spider-Man 4. (Also Read – Tom Holland shares why he left alcohol behind: ‘Struggling without booze…’)

Tom signs Nolan’s next

This will mark the first collaboration between Tom and Christopher. While details of his next directorial aren’t known yet, it’s most likely not to have a contemporary setting. It’ll be either set in the past like, his previous film Oppenheimer (2023), or in the future like Interstellar (2014). Matt Damon, who has worked with Christopher in both, has also come on board his next.

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Christopher’s next will be co-produced by him and his wife Emma Thomas’ banner Syncopy Inc and Universal Pictures, as the two production houses will team up after the Academy Award-winning blockbuster Oppenheimer last year. Prior to Oppenheimer, Christopher collaborated mostly with Warner Bros before having a fallout post the debacle of Tenet (2020).

Warner Bros then went on to produce Greta Gerwig’s musical satire Barbie, which clashed with Oppenheimer at the box office and even outperformed it globally. Warner Bros offered Christopher a cheque for the fees he waived off for helming Tenet during the pandemic. While Christopher graciously accepted the belated remuneration, he still went on to pitch his next to Warner Bros.

Tom’s busy schedule

Tom didn’t have any release this year. His last outing was Todd Graff’s psychological thriller show The Crowded Room on Apple TV last year. He’ll juggle the filming of Christopher Nolan’s next and Spider-Man 4 in 2025. Tom has been playing the superhero ever since Russo Brothers’ 2016 blockbuster Captain America: Civil War. He’s slipped into the Peter Parker shoes post that for three standalone films and two Avengers movies. Spider-Man 4 will be helmed by Shang-Chi and the Legend of the Ten Rings director Destin Daniel Cretton.

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As Tom’s girlfriend and co-star Zendaya will be busy filming Spider-Man 4 in 2025, she’ll reprise her role of Chani in Denis Villeneuve’s sci-fi spectacle Dune 3 only in 2026. Meanwhile, Tom is also likely to make an appearance as Spider-Man in Russo Brothers’ Avengers: Doomsday, which will go on floors in the spring of 2025.

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