On Friday, May 28, the Paytm board of directors is slated to meet to examine the IPO proposal. Paytm is planning an initial public offering (IPO) this year with a target valuation of roughly USD 3 billion.
The digital payments startup, according to sources, is trying to raise over USD 3 billion (about Rs 21,700 crore) at a valuation of well over USD 25 billion, according to persons familiar with the situation.
The Initial Public Offering is expected to take place in the second half of 2021. According to speculations in the media, Paytm’s Initial Public Offering (IPO) might be the largest ever on the Indian stock market if it raises $3 billion. Coal India’s Rs 15,200 crore initial public offering in 2010 is the country’s highest public offering to date.
According to sources, the subscription period for the Paytm IPO would commence in November, around Diwali 2021. According to a report by IANS, the e-commerce payment startup is backed by investors such as Ant Group, Berkshire Hathaway, and Softbank.
In November 2019, Paytm secured USD 1 billion (about Rs 7,000 crore) from T Rowe Price, a US asset management business, as well as previous backers SoftBank and Alibaba. The corporation was valued at roughly USD 16 billion at the time.
Financial services, commerce, and payments are three primary focal areas for the organisation.
According to the article, a number of startup companies in the nation, including Policybazaar, Nykaa, Delhivery, and MobiKwik, are finalising preparations to go public.
Zomato, a meal delivery website, has filed preliminary paperwork with capital market regulator SEBI for an Initial Public Offering (IPO) in April to earn Rs 8,250 crore.
