India's Largest debut of $3 billion in IPO: Paytm

in image paytm logo mobile

By the end of this year, India's leading digital payments provider app, Paytm, aims to raise around ₹21,800 crores ($3 billion) in IPO (initial public offering). This could be the country's largest debut ever. 

Paytm, initially called One97 Communications Ltd, is selecting an estimation of around $25billion to $30 billion. The One97 board plans to meet this Friday for the proper approval of the IPO. Investors such as Berkshire Hathaway Inc, Ant Group Co, and SoftBank Group Corp, by whom the startup has been backed, plan to list in India around November, coinciding with the Diwali festival occasion.

Vijay Shekhar Sharma, the founder of Paytm, has focused on growing revenue and providing its services over the past year. The merchant partners of Paytm are over 20 million, and Paytm users have made 1.4 billion monthly transactions. The first three months of 2021 were the best quarter of Paytm, said, CEO Sharma.




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