Paytm to raise $1.5 bn via primary issue of shares ahead of IPO: Source

Company is looking to file its DRHP by July

Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said.
 
The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources.
 
According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
 
The company will evaluate a secondary share sale, but none of its large