InvestorQ : What is the news on Paytm IPO, and when will it be out?
Nitin Shah made post

What is the news on Paytm IPO, and when will it be out?

Manish Mehta answered.
2 months ago
In recent news, India’s leading digital payments provider Paytm is going to launch its IPO to raise $3 billion (Rs 21,800 crore) in India. The company believes it to be the country’s largest public debut. 

The current valuation of the startup is $16 billion, and they are looking to raise about $25 -30 billion through this IPO. The float will be a mix of shares of sale by existing investors as well as a new equity issue. The company has reached out to several banks, but Morgan Stanley is said to be the legal contender. The company is aiming to list by November and will be starting work by the end of June. The company is also expanding its verticals into financial services such as mutual funds, insurance, stocks, etc.

We can expect a huge turnout for this IPO, and it will also surpass Coal India’s offering of Rs 15,000 crore in 2010. Investment firm Bernstein also issued a note stating that Paytm was expected to double its revenue to $1 billion by the financial year 2023. The company has been growing rapidly, so this could give a positive outlook for its IPO. Considering its growth in the Indian market, we could expect a good response to this IPO.