India's Paytm raises $1.1b from anchor investors ahead of IPO

India's Paytm raises $1.1b from anchor investors ahead of IPO

FILE PHOTO: A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. REUTERS/Amit Dave

One97 Communications Ltd.,the company which operates brand Paytm, has raised ₹8,235 crore ($1.1 billion) from anchor investors, with the anchor round oversubscribed 10 times by 74 investors.