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Synopsis Paytm parent One97 Communications has filed a draft red-herring prospectus (DRHP) with Sebi to raise Rs 16,600 crore ($2.2 billion) in what will be the biggest Indian initial public offering (IPO) in at least a decade. Founded by Vijay Shekhar Sharma, Paytm is currently the second most valued Indian startup at $16 billion. Mumbai | Bengaluru:Paytm has filed a draft prospectus with the capital markets regulator to raise Rs 16,600 crore ($2.2 billion) in what will be the biggest Indian initial public offering (IPO) in at least a decade. The Paytm IPO will comprise equally of a fresh issue worth Rs 8,300 crore ($1.1 billion) as well as a secondary issue or an offer for sale of the same size, the Noida-based fintech firm has told the Securities and Exchange Board of India (Sebi).

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