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Paytm: To raise $2.2bn in IPO

Paytm: To raise $2.2bn in IPO

  • Paytm is India’s largest payments company that offers multi-source and multi-destination payment solutions
  • Indian digital payments giant is seeking to raise up to $2.2 billion in an initial public offering
  • In draft papers submitted to regulators, it will issue new shares worth 83 billion rupees (about $1.1 billion)
  • The company is also in talks about a potential pre-IPO placement of 20 billion rupees
  • It will use the proceeds to grow its payments ecosystem and invest in new areas, make acquisitions
  • It has also found itself facing increased competition from a host of US giants, with WhatsApp, Google, Amazon, and Walmart
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