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Paytm Plans to launch India’s biggest IPO
May 28, 2021
Digital payments provider Paytm is all set to make its market debut as right on time as this year, with an intend to raise $3 billion (around ₹22,000 crore). On the off chance that effective, this could be the greatest initial public offer (IPO) by an Indian organization, breaking Coal India’s 2010 record of ₹15,475 crore.
As indicated by media reports, the leading body of One97, parent organization of Paytm, is good to go to meet this Friday to officially approve the IPO plan.
Paytm backed financial investors like SoftBank Group, Ant Group and Berkshire Hathaway – is focusing on a valuation of $25 billion to $30 billion, 1.5-1.8 occasions the current valuation of $16 billion.
Paytm has arisen as one of the biggest digital payments players in the country and positions third as far as UPI payments with a portion of the overall industry of around 12%.
In March, it accomplished over 1.4 billion exchanges, against 1.2 billion exchanges in February. This development was driven by offline and financial services, said the organization. Overall, 15% month-on-month growth.
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