The private placement is India"s largest to date, in line with PayTM"s position as the country"s largest public offering to date, Bloomberg reported. Jeddah: Abu Dhabi Investment Authority (ADIA) and the University of Cambridge are among dozens who have bought $1.1 billion worth of shares in Indian digital payments company PayTM, according to Bloomberg. BlackRock, the Canada Pension Plan Investment Board and Singapore"s sovereign wealth fund have received some of the largest allocations, PayTM said in a statement to the stock exchange on Wednesday. The company, officially known as One97 Communications Ltd., is selling nearly half of its $2.4 billion IPO to institutional investors. The private placement is India"s largest to date, in line with PayTM"s position as the country"s largest public offering to date, Bloomberg reported. “What the government has done with the common fintech network in the form of the UPI is phenomenal,” Raghav Maliah, vice chairman of global investment banking at Goldman Sachs said in an interview. “It’s the equivalent of the creation of the National Highway System in the U.S. and leads us to be very bullish on possible opportunities in India.”