Warren Buffett, SoftBank-Backed Paytm To Seek Stockholder Consent For $1.6B IPO Share Sale: Bloomberg

Warren Buffett, SoftBank-Backed Paytm To Seek Stockholder Consent For $1.6B IPO Share Sale: Bloomberg

Indian digital payments startup Paytm, formerly known as One97 Communications, will seek shareholder approval to sell about $1.6 billion new stock in its initial public offering, Bloomberg reports.

Paytm plans to sell $1.61 billion in new shares plus a potential 1% for over-allotment.

Paytm plans to offer up to $3 billion shares in the IPO.