Prior to the public offering, the promoters held a 37.41% stake in the omnichannel retailer—and this is expected to fall to 35.34% following the issue.
Paytm founder and CEO Vijay Shekhar Sharma said the company s next milestone is to make Paytm free cash flow positive in the near future, and expand its distribution.
From finance startup Paytm to the nations largest insurer, investors have lost money from those IPOs in the past two years. Theyve turned to companies offering up to just $100 million in stock sales, as India hosted 92 such listings this year, the most in the world, according to data compiled by Bloomberg.