The corporate-backed mobile payments app’s parent company, One97 Communications, has filed to float in an offering set to include $1.1bn of existing share sales.

One97 Communications, the India-based owner of payments platform Paytm backed by corporates Alibaba, Ant Financial, SoftBank and MediaTek, filed today to go public on the Securities and Exchange Board of India.

The company intends to raise up to Rs 16.6bn ($2.2bn) in an initial public offering which would entail it issuing $1.1bn in new shares while its shareholders will divest the same amount.

Selling shareholders in the IPO will include founder and CEO Vijay Shekhar Sharma, e-commerce group Alibaba…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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