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Paytm plans to launch India's biggest IPO

Friday 28 May 2021 13:13 CET | News

Paytm has started to plan India’s biggest IPO, with an aim to raise USD 3 billion in 2021.

According to India Today, it was reported that Paytm is targeting a valuation of around USD 25 to USD 30 billion with the IPO. While Paytm has not commented on the report, there are high chances that the company would soon release an official statement about the public offering. 

Furthermore, banks shortlisted to run the Paytm IPO including Morgan Stanley, CitiGroup and JP Morgan Chase & Co. The public issue will include a mix of new and existing shares in order to meet regulatory obligations.

The initiative comes as the digital payments company has been focusing on tamping up revenue and monetising its other offerings over the past year. The company, which started off as an online payment wallet, has now forayed into banking, credit cards, financial services, wealth management, UPI, and other services, India Today reported.


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Keywords: Paytm, IPO, mobile payments
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce