State-backed wealth investors Abu Dhabi Investment Authority and Singapore
PTEs are among those bidding to participate in Paytm IPO, the people said, asked not to be identified because the information is private. global financial firms such as black Rock Inc. and nomura People reported that Holdings Inc. is also in talks for a bid.
One97 Communications Ltd., as Paytm is formally known,
is considering He sought a valuation of $20-22 billion based on the feedback from early investors. People said there are already more than enough bids to cover the shares allotted for anchor investment in the IPO.
whereas
draft preliminary brochure Filed in July, it is still awaiting approval from the Securities and Exchange Board of India, one of the people said.
People said that talks are on and other bidders may emerge for the stakes. A Paytm representative declined to comment, while In advance, BlackRock, GIC and Nomura did not immediately respond to requests for comment.
India’s market for first time share sale is rising on the introduction of tech firms
Zomato Ltd. $1.3 billion offer. According to data compiled by Bloomberg, the amount raised from the IPO this year has reached $10.8 billion. At the current pace, 2021 will surpass the all-time record of $11.8 billion.
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Paytm, backed by SoftBank Group Corp, Berkshire Hathaway Inc and Jack Ma’s Ant Group company, plans to raise 166 billion rupees ($2.2 billion) from its share sale, according to its draft prospectus.
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Led by Founder and CEO Vijay Shekhar SharmaPaytm has expanded beyond digital payments into banking, credit cards, financial services and wealth management. It also supports the Unified Payments Interface or UPI, India’s financial payments backbone.
In fintech, Paytm has faced stiff competition from a slew of global players and has the largest market share of merchant payments in India with over 20 million partners in its network. Its users do 1.4 billion monthly transactions, according to numbers in a recent company blog post.