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Rs 18,300 crore Paytm IPO to open on November 8

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Mobile payments firm Paytm is all set for its Rs 18,300 crore initial public offering, which will happen between November 8 and 10 at a price band of Rs 2,080-2,150, the company said in its Red Herring Prospectus issued on October 27.

This is touted to be India’s largest market debut, a record that was previously held by Coal India, which raised Rs 15,000 crore over a decade ago. The company which had planned a Diwali listing got delayed on its plans by over a week following a delay in approval by the Securities and Exchange Board of India (SEBI).

Paytm is currently India’s second most-valuable internet company, last valued at $16 billion when it raised a billion dollars in November 2019 led by T Rowe Price, Discovery Capital and D1 Capital.

The public offer is expected to take the company’s valuation to $20 billion. The company which was earlier planning to raise Rs 16,600 crore revised the amount to Rs 18,300 crore following an increased investor interest.

As per the document, while the fresh issue is Rs 8,300 crore the offer for sale consists of Rs 10,000 crore which includes Rs 402 crore of the aggregate amount of equity shares offered by founder Vijay Shekhar Sharma.

Others who will be selling their stakes include Ant Financials at Rs 4,704 crore, Alibaba at Rs 784 crore, and SAIF III Mauritius Company at Rs 1,327 crore. Paytm had filed it’s Draft Red Herring Prospectus (DRHP) with the market regulator in July. It will be listed on the Bombay Stock Exchange and the National Stock Exchange.

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Environmentalists Criticize CIDCO for Calling DPS Flamingo Lake ‘Vacant Land’

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Activists seek urgent notification of Conservation Reserve status and stronger protection for Nerul wetland.

The Criticism

Environmentalists have criticised the City and Industrial Development Corporation (CIDCO) for describing DPS Flamingo Lake in Nerul as “vacant land” in a tender for a flamingo habitat study. They have urged the Maharashtra government to expedite the formal notification granting the ecologically sensitive wetland Conservation Reserve status. NatConnect Foundation has written to Chief Minister Devendra Fadnavis, alleging that CIDCO’s description undermines the state wildlife board’s decision to declare the lake a Conservation Reserve. NatConnect director B N Kumar said the government resolution formalizing the status had reportedly been pending for nearly a year, according to a Forest Department response to a Right to Information (RTI) query.

Environmentalists have also questioned the need for another study. Rekha Shankhala of the Save Flamingos and Mangroves Forum urged authorities to publish findings from previous studies and clarify the status of the proposed reserve. Sandeep Sareen of the Navi Mumbai Environment Protection Society alleged that CIDCO had disregarded High Court rulings recognising the site as a wetland. He also claimed that the blocking of intertidal water flow had harmed the lake’s ecological character.

CIDCO’s tender, dated October 27, 2026, seeks an expert to study the flamingo habitat near DPS, Nerul, close to Navi Mumbai International Airport. The proposed study will run for six months, and eligible consultants must have experience in bird-hazard assessments at airports. Environmental groups have highlighted recommendations by the Bombay Natural History Society to protect wetlands around the airport, including DPS Flamingo Lake, NRI Lake and TS Chanakya Lake. They have called for prompt government action to secure the wetland’s long-term protection.

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NMMC Recovers Rs 143.5 Crore in Property Tax, 2,515 Properties Face Seizure

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Civic body steps up action against defaulters to recover outstanding property tax dues.

The Tax

The Navi Mumbai Municipal Corporation (NMMC) has intensified its property tax recovery drive, with 2,515 properties facing seizure over unpaid taxes. The civic body has reportedly recovered Rs 143.5 crore as part of its efforts to collect outstanding dues.

The action is aimed at property owners who have failed to clear their pending tax payments. The corporation is taking steps to recover the dues and ensure that taxpayers fulfil their financial obligations to the civic administration.

Property tax is an important source of revenue for the NMMC and helps fund essential civic services, including road maintenance, sanitation, water supply and other infrastructure projects. The move to initiate seizure proceedings against properties highlights the corporation’s efforts to improve tax collection and deal with long-pending defaults. Property owners with outstanding dues may face further action if they fail to make the required payments.

The recovery drive is expected to put pressure on defaulters to clear their pending taxes and help strengthen the civic body’s revenue collection.

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Shiv Sena (UBT) Demands Urgent Road Safety Measures Near Turbhe Station

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Party cites over 40 deaths and 80 serious injuries, seeks speed breakers, streetlights and round-the-clock traffic policing.

The Demand

The Shiv Sena (Uddhav Balasaheb Thackeray) has demanded immediate road safety measures near Turbhe railway station and the adjoining Thane-Belapur highway, alleging that poor road engineering and administrative negligence have made the stretch dangerous for commuters and pedestrians.

A party delegation submitted a memorandum to the Navi Mumbai Municipal Corporation (NMMC) commissioner, city engineer and Turbhe police, seeking urgent action to prevent further accidents. According to the memorandum, more than 40 people have died and over 80 have suffered serious injuries in accidents in the area. The death of a woman pedestrian on October 26 has renewed concerns over road safety, the party said.

The delegation demanded scientifically designed speed breakers, rumble strips, high-mast streetlights, clearly marked zebra crossings and safety barricades on the highway stretch from Panvel towards Thane. It also sought accountability for officials allegedly responsible for safety lapses, compensation for accident victims and their families, and legal action against engineers found negligent. The party urged traffic police to deploy personnel round the clock at the junction opposite Turbhe station and other accident-prone locations. It also called for CCTV surveillance and strict action against speeding, signal violations and wrong-side driving.

Additionally, the delegation demanded the removal of illegal tempo stands and unauthorised parking, along with towing of illegally parked vehicles.

The delegation included divisional chief Pravin Patil, party worker Balkrishna Khaparde and branch chief Akash Itkar, among others. The party warned that if speed breakers and other safety measures were not implemented within seven days, it would stage a protest outside the NMMC headquarters under district chief Prakash Patil’s guidance.

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