Paytm to lend Rs 743 cr to Vijay Shekhar Sharma s two companies ahead of IPO: Report freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Paytm to lend Rs 743 crore to two Vijay Shekhar Sharma companies ahead of IPO
According to the proposal, the company will buy Rs 491.93 crore of optionally convertible debentures to be sold by VSS Holdings Pvt Ltd, where Vijay Shekhar Sharma is a director
BusinessToday.In | June 7, 2021 | Updated 08:42 IST
Paytm to lend Rs 743 crore to Vijay Shekhar Sharma s companies
One97 Communications Ltd, parent company of online payments app Paytm is set to extend Rs 743 crore funding to two companies owned by founder Vijay Shekhar Sharma. This development comes ahead of the $3 billion IPO planned later this year. The proposal will be put to vote at the company s annual meeting on June 30.