Paytm's Rs 16,600 cr IPO gets Sebi nod, listing likely in November: sources

Paytm was launched in 2009 as a mobile-first digital payments platform to enable cashless payments

One97 Communications, the parent of Paytm, has received the Securities and Exchange Board’s (Sebi’s) nod for its Rs 16,600-crore initial public offering (IPO).

The firm is likely to launch the offer in November, said sources aware of the development. The IPO is touted to be the biggest ever in the country, surpassing the Rs 15,000 crore raised by government-owned Coal India in 2010. The IPO comprises a fresh issue of equity shares of Rs 8,300 crore and an offer for sale (OFS) by existing shareholders of Rs 8,300 crore. 

According to the Draft Red Herring Prospectus (DRHP), shareholders Ant Financial,