Paytm parent allots shares to SoftBank, others as part of $1 bn fundraise

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.