BusinessSIBY JEYYAeditor@indiaherald.comhttps://indiaherald-nkywabj.stackpathdns.com/ImageStore/images/business/technology_videos/paytm-board-clears-crores-ipo-mega-planac59fbc3-11da-4b14-99ca-8f488fe22154-415x250-IndiaHerald.jpghttps://indiaherald-nkywabj.stackpathdns.com/ImageStore/images/business/technology_videos/paytm-board-clears-crores-ipo-mega-planac59fbc3-11da-4b14-99ca-8f488fe22154-415x250-IndiaHerald.jpg

Digital payments and financial services firm Paytm has received a nod from the company's board to raise around Rs 22,000 crore through an initial public offer. The company is looking at an enterprise value of over ₹2 lakh crore for the IPO. A source said, "The board of directors of Paytm has given in-principle approval for the mega IPO planned to be launched in October-December quarter.

paytm{#}Digital Payments;paytm;Vijay Shekhar Sharma;India;Digital Wallet Platform;ServicePaytm board clears 22000 Crores IPO Mega planpaytm{#}Digital Payments;paytm;Vijay Shekhar Sharma;India;Digital Wallet Platform;ServiceInvalid DateDigital payments and financial services firm paytm has received a nod from the company's board to raise around Rs 22,000 crore through an initial public offer. The company is looking at an enterprise value of over ₹2 lakh crore for the IPO. A source said, "The board of directors of paytm has given in-principle approval for the mega IPO planned to be launched in October-December quarter. 

The company expects to raise around Rs.21,000-22,000 crores from the IPO. This will also give some of the existing investors to offload some of their stakes." paytm shareholders include Alibaba's Ant Group (29.71 percent), Softbank Vision Fund (19.63 percent), Saif Partners (18.56 percent), vijay shekhar sharma (14.67 percent).

It is likely to be one of the largest IPOs in india if the company is able to achieve the target as per its plan. paytm claims to be around 30-50% larger than its rival companies in the segment with over 1.4 billion monthly transactions. Sources said a leading banker has valued paytm at around $20 billion, higher than its current valuation of $16 billion. paytm has so far raised around 2.8 billion dollars. Stay tuned.



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Source: India Herald - SIBY JEYYA]]>