Opinion: What Investors May Soon Expect From IPO-Bound Paytm Opinion: What Investors May Soon Expect From IPO-Bound Paytm
Updated: July 27, 2021 9:56 am IST
India s biggest-ever initial public offering can t be chalked up solely to the zeitgeist. Like most markets, irrational exuberance and easy money will no doubt play a part in Paytm s upcoming $2.2 billion share sale. But above all, investors will be placing bets on what a 12-year-old, unprofitable fintech firm backed by SoftBank Group Corp. and Ant Group Co. could yet become.
As for what that might be, look toward South Korea.
There, KakaoBank Corp., an affiliate of Ant-backed Kakao Pay Corp., is going public at the top of its indicated price range after institutions bid $2.25 trillion, more than 1,700 times the shares offered to them. Retail participation ends Tuesday.
With 155 Million UPI Handles, Paytm Payments Bank is Largest Beneficiary Bank
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Paytm Payments Bank has 155 million UPI handles, is the largest beneficiary bank
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Monday, 19 Jul 2021 07:53 AM MYT
Paytm is backed by the Ant Group of Chinese tycoon Jack Ma, which holds a nearly 30 per cent stake, along with Masayoshi Son’s Softbank Vision Fund, Berkshire Hathaway and other high-profile investors. Reuters pic
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MUMBAI, July 19 Digital payments pioneer Paytm on Friday took a major step towards launching India’s biggest initial public offering, telling regulators that it would seek to sell US$2.2 billion (RM9.26 billion) in shares.
The offering is the latest in a wave of IPOs in India, with food delivery firm Zomato this week raising US$1.3 billion.