![]() ![]() Paytm has since branched out into services including insurance and gold sales, movie and flight ticketing, and bank deposits and remittances. Its use swelled further in 2016 when a ban on high-value currency bank notes boosted digital payments. Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option. A successful listing would make Paytm the biggest IPO in India, surpassing a record 2.07 billion initial public offering by government-owned coal mining and refining firm Coal India 11 years ago. read moreĪnt Group, with a roughly 30% stake, is Paytm's largest shareholder. Several first-generation homegrown startups in India are preparing to go public on domestic bourses, following on the heels of food delivery firm Zomato (ZOMT.NS) which made a stellar stock market debut in July and which also counts China's Ant Group as a shareholder. A source told Reuters in July that Paytm was likely to break even in 18 months. The company, whose backers include Ant Group, SoftBank's (9984.T) Vision Fund and Berkshire Hathaway (BRKa.N), narrowed its operating loss to 16.55 billion rupees ($221.00 million) in the financial year that ended in March 2021, from 24.68 billion a year earlier. ![]() Of this, Rs 8,235 crore was raised by placing shares with anchor. PayTM went public with plans to raise Rs 18,300 crore. Paytm was planning its initial public offering for around the end of October, Reuters previously reported. The IPO of One 97 Communications (PayTM) is a case in the point. NEW DELHI, Oct 22 (Reuters) - Indian fintech firm Paytm has received approval from the capital markets regulator for its $2.2 billion stock market listing that is likely to be India's biggest ever IPO, a source familiar with the matter told Reuters on Friday.
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