PATYM mulls the scrapping of an RS2, 000 Cr pre-IPO scale upon the valuation differences

Paytm India

Paytm India

Paytm, which is a digital payment pioneer that has been backed by Jack Ma’s Ant Group Company, is considering scrapping the proposed $268 million shares ahead of the initial public offering regarding the valuation differences, according to the ones who are familiar with the development. The firm has been receiving a valuation of above $2 billion that is based on the initial investor feedback. While the other advisors on the deal have recommended low pricing.

The firm was last valued at $16 million, according to the reports of the union tracker, CB Insights. Paytm further hopes to tap towards a strong investor on demand fueled by the easy liquidity, which has been buoyed and has topped into the blockbuster list of India the very last year. The company had reported a 10% drop in revenue during the year ended March 2021, after intensifying competition from Walmart Inc. 's Flipkart and Inc. cut its e-commerce and cloud sales by the same amount.

The final decision is still not made and Paytm can still consider a pre-IPO sale that is potentially at a lower valuation. And the regulators are expected for the approval of the listing some of them even said. The representatives of the company have not responded to an email and have neither given any comment. Banks including Morgan Stanley, Goldman Sachs Group Inc., Citigroup Inc., and ICICI Securities Ltd. are running the share sale. Paytm may consider a pre-IPO placement of as much as 20 billion rupees, it had said in the Draft Red Herring Prospectus filed with the Securities and Exchange Board of India on July 16. 



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