Digital payments provider Paytm is mulling a $3-billion initial public offering, the largest ever in India, Bloomberg News reported on Thursday. The Vijay Shekhar Sharma-led startup may tap the Indian capital markets close to the festival season this year, the report said. Is the 12-year-old PayTM ready to go public?
Paytm eyes Rs 21,000 crore IPO this year: Report
6 hours ago
Vijay Shekhar Sharma’s One97 Communications Ltd., the parent entity of Paytm, is looking to list on the stock exchanges sometime this year, Bloomberg reported. The company is looking to raise $3 billion or Rs 21,800 crore through the initial public offering (IPO).
Quoting an anonymous source, the report said that the company plans to list its stocks on Indian exchanges around November and its offering could coincide with the Diwali festival season. Paytm’s investors include Berkshire Hathaway, SoftBank and the Ant Group. One97 could fetch a valuation of $25 billion to $30 billion, the report said. Adding that One97’s board is scheduled to meet this Friday to formally approve the IPO plan, the report added.
In today s ETtech Morning Dispatch: Govt appears to be at an impasse with Facebook, WhatsApp, Google and Twitter over new India IT rules; Twitter Tip Jar feature coming soon to India; Koo app raises $30 million at over $100 million valuation.