Insta
Board Of Paytm Gives In-Principle Nod For $3 Billion IPO At $25-30 Billion Valuation
Swarajya Staff
May 31, 2021, 12:58 PM | Updated 12:58 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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, reports 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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.