Paytm, a leading digital payments service provider, is said to be planning India’s largest IPO, valued at $3 billion. With the IPO, the business hopes to achieve a valuation of $25 billion to $30 billion.
Paytm, India’s largest digital payments service provider, is aiming to conduct India’s largest initial public offering (IPO) later this year, with a target valuation of $3 billion. Paytm plans to go public in November, around the time of the Diwali festival.
Paytm is aiming for a valuation of $25 to $30 billion in its IPO. The One97 board of directors is expected to meet tomorrow to formally endorse the IPO proposal. While paytm has not given out any official statement, there is a good probability the firm will issue an official announcement on the IPO shortly.
If the proposal is accepted, Paytm’s initial public offering (IPO) will be larger than Coal India’s, which raised more than 150 billion rupees in 2010, making it the country’s largest IPO to date.
Over the last year, the firm has focused on increasing income and monetising its other products, spearheaded by CEO Vijay Shekhar Sharma. Beginning as an online payment wallet, the firm has expanded into banking, credit cards, financial services, wealth management, UPI, and other areas.
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