Paytm To Go Public During Diwali This Year In What Could Be India's Largest IPO Ever: Report
Paytm To Go Public Around Diwali This Year In What Could Be India’s Largest  IPO: ReportPayTM 

India’s digital payments giant Paytm is set to go public during around Diwali this year in order to raise Rs 21800 crore in what could be the country’s largest initial public offering (IPO) ever.

The Vijay Shekhar Sharma-led company is aiming a valuation of about $25 billion-$30 billion through the IPO as its board is anticipated to meet this Friday to formally approve the same.

Morgan Stanley, JP Morgan Chase & Co, Citigroup Inc are some of the banks shortlisted to operate the Paytm IPO and the process is reported to kick-start by around late June or early July.

The IPO will include a combination of both new and existing shares in order to comply with India’s regulatory obligations that necessitate 10 per cent and 25 per cent of the shares to be floated in two and five years respectively.

Paytm, officially referred to as One97 Communications Pvt Ltd, has stressed upon building up its revenue and monetizing its services in the last year.

It records 1.4 billion monthly transactions, hosts 20 million merchant partners and holds the largest market share of India’s merchant payments, Economic Times reports.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber