Paytm IPO: Here comes the giant fintech offering of Rs 16,600 crore for Dalal Street

Paytm's initial public offering is on it's way to Dalal Street as the shareholders have approved the plan at the EGM held on Monday. 
Here is what has been approved-:

• IPO fund raising of Rs 12,000 cr via fresh issue of shares
• Secondary fund raising of Rs 4,600 cr; total IPO size of Rs 16,600 cr
• Vijay Shekhar Sharma will no longer be classified as a promoter 
• Paytm to apply for IPO as 'no promoter' firm. 
• Vijay Shekhar Sharma to remain Chairman, MD & CEO

ALSO WATCH: You can now pre-book IPO via Paytm Money, just in time for the Zomato order

21-year old firm that is backed by the Ant Group recently saw a revamp of the board which removal of Chinese nationals and addition of Indian and US citizens. The DRHP is likely to be filed later this week for a Diwali offering. 

ALSO WATCH: Startup Digest: Latest from Pharmeasy, MobiKwik IPO, DoSelect Powerplay