$1 billion+ club round-up: Flipkart is buying back ESOPs, Oyo secures $600 million debt, and more

An overview of what's happening in Indian's unicorn space.

Paytm files draft papers for IPO

The online payments platform this week filed its draft red herring prospectus with SEBI to raise $2.2 billion initial public offering (IPO) – half through fresh equity and the other half through offer-for-sale.

According to a Business Insider report, the company could consider a pre-IPO placement, which will reduce the fresh issue size.

Oyo secures $600 million debt

The company has closed a debt financing round of $660 million from global institutional investors but hasn’t yet made public their names.

According to Moneycontrol, the unicorn plans to use the funds to clear past debts, strengthen the balance sheet and boost the product technology.

Day 3 of Zomato IPO

The food tech unicorn launched its initial public offering (IPO) on July 14, 2021 – becoming the first Indian unicorn to go public. The price band of the IPO is fixed at Rs 72-76 per share of the face value of Rs 1 each. The company aims to raise Rs 9,375 crore through the offer.

On the final day, the issue was subscribed nearly 13.8 times by mid-day.

Ahead of the IPO, the company raised over Rs 4,196 crore from 186 anchor investors in lieu of 55,21,73,505 equity shares at Rs 76 each.

Flipkart is buying back ESOPs worth Rs 600 crore

About 6,000 employees at the e-commerce company have the option to liquidate up to 10% of their vested employee stock options.

The move is a part of the latest $3.6 billion funding round. Post this, the unicorn will be valued at $37.6 billion.

Amanat Khullar is the Content and Editorial Manager at ADIF.

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