Setting the stage for what would be the biggest initial public offering (IPO) in the history of Indian bourses, the board of Vijay Shekhar Sharma led fintech major Paytm’s parent company One97 Communications has given in-principle approval for the listing, Moneycontrol.
The eight-member board of One97 Communications met on 28 May to give the in-principle nod for the IPO to raise $3 billion at a valuation in the range of $25-30 billion.
This would be significantly higher than the $16 billion valuations commanded by the company when it last raised $1 billion from Masayoshi Son-led Softbank and Chinese behemoth Ant Financial in 2019.
It should be noted that recently Zomato had also filed its Draft Red Herring Prospectus (DRHP) with SEBI for a listing in the coming months.
Similarly, many other Indian startups are expected to list on the Indian bourses in the coming times. These include the likes of Falguni Nayar-led Nykaa, Yashish Dahiya led Policybazaar, and also Gurugram based logistics and supply chain major Delhivery.
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