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Paytm gets regulatory nod to launch IPO
October 25, 2021
India’s digital payments giant Paytm’s parent organization One97 Communications has received approval from the capital business sectors controller for its $2.2 billion or ₹16,600 crore first sale of stock (IPO) that is probably going to be India’s greatest truly posting, a source familiar with the development told news agency Reuters on Friday.
The IPO has as of now been cleared by the Securities and Exchanges Board.
Paytm is hoping to hit the bourses before the finish of October or the main seven day stretch of November and is wanting to avoid the pre-IPO share deal rounds to quick track posting. The official disclosure of the posting is normal before the end of this week.
As indicated by reports, Paytm is taking a gander at a valuation of ₹1.47-1.78 lakh crore.
The fintech platform, which is likewise sponsored by Ant Group, SoftBank’s Vision Fund and Berkshire Hathaway, limited its working misfortune to 16.55 billion rupees ($221.00 million) for the financial year that finished in March 2021 contrasted with 24.68 billion last year, Reuters announced. Ant Group is Paytm’s biggest shareholder with almost 30% stake.
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