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Paytm ropes in I-bankers for mega IPO
June 18, 2021
One97 Communications, the parent organization of Paytm, has finalized bankers for its proposed IPO. The organization is perceived to have accepted JP Morgan, Morgan Stanley, ICICI Securities and Goldman Sachs to lead the issue, which is probably going to be the biggest IPO in the financial sector.
Paytm wouldn’t comment on the appointment of the investment bankers. Sources said that Paytm was taking a look at documenting its draft red herring prospectus as early as next month, showing that a great deal of preparation has gone into the IPO. The fintech had made its IPO plans official in the wake of connecting with employees, allowing them an opportunity to delicate their offers under the approaching issue as a feature of the proposal available to be purchased (OFS) shares. The organization had said that the issue could be a mix of an OFS by existing investors as well as new shares.
As indicated by a Bloomberg report, Paytm is focusing on a valuation of $25-30 billion (₹1.8-2.2 lakh crore). There have been different reports assessing the worth at around $20 billion (about ₹1.5 lakh crore), as against the valuation of $15 billion (₹1.1 lakh crore) during a raise support in 2019.
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