te Paytm IPO: Company board to likely meet today to take a call; here is all you need to know | Zee Business

Paytm IPO: Company board to likely meet today to take a call; here is all you need to know

Paytm board of directors is expected to meet on Friday, May 28 to discuss the IPO proposal. Paytm is preparing to launch an initial public offering (IPO) this year with an aim to raise around USD 3 billion. 

Paytm IPO: Company board to likely meet today to take a call; here is all you need to know
Paytm IPO: Company board to likely meet today to take a call; here is all you need to know. Source: PTI

Paytm board of directors is expected to meet on Friday, May 28 to discuss the IPO proposal. Paytm is preparing to launch an initial public offering (IPO) this year with an aim to raise around USD 3 billion.

According to PTI, the digital payments company is looking at raising about USD 3 billion (over Rs 21,700 crore) at a valuation of well over USD 25 billion, the sources privy to the development said.

 

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The IPO is likely to be launched in the later part of 2021. As per some media reports, Paytm IPO could become the largest debut ever in the Indian share market if it manages to fetch the amount of USD 3 billion. Till date, Coal India's Rs 15,200 crore-IPO in 2010 is the country's largest public offering.

The subscription for Paytm IPO is likely to open in November around Diwali 2021 as per the reports. According to a report by IANS, investors such as Ant Group, Berkshire Hathway, and Softbank back the e-commerce payment company.

Paytm had raised USD 1 billion (over Rs 7,000 crore) in November 2019 from US-based asset management firm T Rowe Price and existing investors, including SoftBank and Alibaba. At that time, the company was valued at around USD 16 billion.

The company is betting on financial services, commerce, and payments as three key focus areas.

A number of young businesses in the country, including Policybazaar, Nykaa, Delhivery and MobiKwik, are also reportedly firming up plans to launch their IPOs, as per the report.

Zomato, a food delivery platform has filed preliminary papers for an IPO with capital market regulator SEBI to raise Rs 8,250 crore in April.

Written By: ZeeBiz WebTeam
Edited By: Shivendra Kumar
Updated: Fri, May 28, 2021
01:14 pm
New Delhi, ZeeBiz WebDesk
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