Paytm Targets $3 Billion IPO, Likely Largest Ever Debut For India

Paytm Targets $3 Billion IPO, Likely Largest Ever Debut For India

Paytm Targets $3 Billion IPO, Likely Largest Ever Debut For India

Later in the year, the Leading digital payment provider of India Paytm is aiming to raise about Rs 21,800 crore,i.e, $3 billion in an Initial Public Offering. It is going to make the largest debut in the country ever.  The start-up is being backed up by the investors which include Berkshire Hathaway Inc, Software Group Corp., and Ant Group co. The company is planning to list in India in November and the offers may be available during the Diwali season.

Paytm which is formally called One97 Communication Ltd which is going to target a valuation of around $25 billion to $30 billion. The One97 board is planning to meet on 28 May to formally approve the IPO. If the plan is Successful then Paytm will initially share the sale which would surpass the offering of Coal India Ltd which has raised more than Rs 15,000 crore in 2010 in the country’s largest IPO so far.

Banks that have been shortlisted for running the Paytm offers include Morgan Stanley, Citigroup Inc, and JPMorgan Chase and Co. Among all of them Morgan Stanley is going to be the lead contender. This process may start rolling in late June or in early July.



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