Rs 16,600 crore IPO .. PAYTM coming to stir the stock market ..!
PAYTM, India’s leading digital financial services company has taken the first step of its long-planned dream IPO project. PAYTM, led by Vijay Sehgar Sharma, has emerged as India’s largest financial services company. In this context, PAYTM has submitted a DRHP report to the Securities and Exchange Board of India (SEBI) seeking to raise about Rs 16,600 crore to break Somato’s huge IPO record.
Vijay Sehgar Sharma – PAYTM CEO
PAYTM, led by Vijay Sehgar Sharma, has applied to SEBI to raise Rs 8,300 crore through brush issue and Rs 8,300 crore in the offer bar sale segment of the IPO. SEBI will approve this as it has to study various factors.
Chinese companies and investments
The key question is how SEBI and the central government will handle PAYTM’s IPOs, as China’s Alibaba and Ant Financial have a large stake in PAYTM, while there is a mood against Chinese companies and Chinese investments in India.
PAYTM is set to jointly manage this huge IPO with Morgan Stanley, Coleman Sachs, and Axis Capital. Like Somato, PAYTM is expected to allocate only a limited number of shares to the retail segment.
China and Japan
At PAYTM, Ant Group alone holds 30.33 percent, Japan Softbank 18.73 percent, Vijay Sehgar Sharma 14.97 percent, and Alibaba 7.32 percent.
Ratan Tata, Warren Buffett
Also Ratan Tata and Warren Buffett have private shares and it is my expectation that both of them will sell their shares in this IPO project.
It is noteworthy that PAYTM and its leaders are pending an income tax case worth Rs 1.6 crore against PAYTM and 25 criminal and 40 tax fraud cases.
Ready work for 20,000 people in PAYTM .. Salary of 35,000 rupees per month ..!
In India, many leading companies such as PAYTM, PhonePay, GooglePay, GeoPay, WhatsAppPay are competing fiercely for the digital payment business. As a result of this competition, even Google has now started refunding the bonus money instead of Better Luck Next time on its scratch card.
PAYTM, which is preparing for an IPO this time around, has announced that it will be adding about 20,000 people to the Field Sales Executive division to further expand its business.
Newly added Field Sales Executive staff will be employed to sell PAYTM Company QR Code, POS Machine, PAYTM Soundbox, Wallet, UPI, PAYTM Postpaid, Merchant Credit, Insurance Plans.
Jobs for 20000 people
It is also expected that most of the 20,000 people added to the Field Sales Executive category will be employed in 2nd and 3rd tier cities. The reason is that PAYTM has got enough business in big cities. It seems that PAYTM management has now decided to do expansion work in 2nd and 3rd tier cities.
Salary of 35,000 rupees
Following this, those who join the Field Sales Executive at PAYTM are likely to get a salary of Rs 35,000 per month. Similarly, those in the sales department should not forget that there will be a target.