With a proposed new-share sale of Rs 16,600 crore, online payments giant PayTM ranks high among initial public offerings (IPOs) in India. The listing could also serve as a bellwether for many others planning to tap the markets. Sources told Moneycontrol that PayTM, which along with others like fashion-focused e-commerce player Nykaa, are aiming for a pre-Diwali launch subject to Securities and Exchange Board of India approval, could price the IPO at a reasonable level given the current market condition.