Paytm's parent company One97 Communications raises Rs 4,724 crore from Alipay, SVF, T Rowe Price

Paytm's parent company One97 Communications Ltd has raised Rs 4,724 crore (nearly $660 million) in a fresh round of funding led by Singapore-based Alipay Singapore E-commerce Private Ltd.

Other investors which participated in the funding were SVF Panther (Cayman) Ltd, US-based asset management firm T Rowe Price Growth Stock Fund Inc.

One 97 Communications Ltd's board of directors had approved the allotment of 2,592,472 equity shares at $254.58 per share recently, according to a regulatory filing accessed by business intelligence platform Tofler as cited by the Livemint.

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Where Alipay Singapore E-Commerce put in Rs 1,433 crore, SVF Partner (Cayman) invested Rs 1,430 crore and T Rowe Price brought in Rs 704 crore.

Paytm in November had secured $1 billion in its new financing round taking its valuation to $16 billion. The funding which was led by T Rowe Price cemented Vijay Shekhar Sharma-led company's position as India's most-valued startup. This is the largest amount raised by an Indian startup this year.

Also Read: Paytm raises $1 billion in latest funding; takes valuation to $16 billion

T Rowe Price, along with Discovery Capital and D1 Capital had put in about $400 million, while existing investors SoftBank and Ant Financial invested $200 million and $400 million respectively.

In the previous round, Paytm had raised $300 million from Warren Buffett's Berkshire Hathaway in 2018. The company was valued at $10 billion then.. This is the first primary funding round since Berkshire Hathaway's investment.

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