December 13, 2019 / 5:11 AM / a month ago

SoftBank-backed Paytm to allot 2.6 million shares in fundraising

A vendor weighs vegetable next to an advertisement of Paytm, a digital payments firm, hanging amidst his vegetables at a roadside market in Mumbai, April 2, 2019. REUTERS/Francis Mascarenhas

BENGALURU (Reuters) - SoftBank-backed Indian digital payments startup Paytm’s parent is set to allot about 2.6 million shares to investors, according to a latest filing by the company.

According to the filing, the amount raised is 47.24 billion rupees ($658.21 million).

A source familiar with the matter said the allotment by One 97 Communications Ltd was part of last month’s $1 billion fundraise, which valued Paytm at $16 billion.

Alibaba’s Alipay, SoftBank’s SVF Panther (Cayman) and funds managed by T Rowe Price were among the investors, financial data accessed by business intelligence platform Tofler dated Dec. 12 showed.

Paytm did not respond to a request for a comment.

Reporting by Derek Francis in Bengaluru; Editing by Bernard Orr

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