The board of One97 Communications, the parent firm of Paytm, is expected to deliberate on plans to go public with an initial public offer worth $3 billion during its meeting on Friday evening, according to sources.
The proposed IPO, through which the company plans to raise nearly ₹21,800 crore, if successful, would be the largest such offer, breaking state-owned Coal India’s 2010 record of ₹15,475 crore.
The company, backed by SoftBank and Alibaba, did not comment on the matter.
Last month, food delivery platform Zomato filed preliminary papers with SEBI to raise ₹8,250 crore through an initial public offering.