indian digital payments startup paytm says it has sufficient capital after raising the size of its initial public offering we dont see any reason for us to raise more money especially in primary capital unless there is an extraordinary event founder and ceo vijay shekhar sharma told cnbc on friday we are wellcapitalized more than wellcapitalized for the business plan that we have right now in papers submitted to indias market regulator on thursday paytm said it will issue new shares worth 83 billion rupees while existing shareholders will sell shares worth up to 100 billion rupees that would bring the total ipo size to 183 billion rupees 244 billion the company had initially said it planned to raise 166 billion rupees 22 billion when it announced ipo plans in july paytm shareholders were set to sell up to 83 billion rupees of shares at that time the startup is backed by a number of prominent investors like japans softbank chinas ant group and warren buffetts berkshire hathaway paytms sharma told cnbcs street signs asia on thursday that he was surprised by the high level of investor interest in the offering we increased the size based on the tremendous demand that we saw in our roadshow process he said the ipo will be open for subscription between nov 8 and nov 10 techcrunch reported that paytm plans to price its shares between 2080 rupees and 2150 rupees 2780 to 2872 and it would value the company at 20 billion paytm shares are expected to start trading from around nov 18 on the national stock exchange of india as well as the bse sharma also said that there is no timeline set by investors on when the noidaheadquartered company must become profitable or break even paytm started in 2009 as a platform that allowed indians to pay their bills and topup their mobile plans more than a decade later the startup has become ubiquitous in indias digital payments space as millions use the service to pay for everyday items like utility bills groceries as well as movie tickets and recharging of mobile connections paytm is also a fully licensed digital bank and has launched insurance wealth management as well as cloud and commercial services when asked if there are any plans to step up expansions abroad sharma said paytms nearterm focus is on india i think our approach is clear that india is our primary market and the market to win and we would never divert or put any attention anywhere else at the cost of india he said