Bangalore: masayoshi sono, Founder and Chief Executive Officer softbank group, called Initial Public Offering (IPO),
Which is open for subscription in India today, should be a “great event” for the Japanese investment major.

Son told reporters after making the announcement, “I believe Paytm should grow significantly… and in terms of valuations. Of course, it depends on the market conditions and investor appetite.”
SoftBank’s September quarter earnings on Monday. “Either way, I believe that the valuation (of Paytm during the IPO) should be bigger than the cost that we spent on investing (in the company). So for us the IPO should be a great event. ” He was asked whether Paytm’s IPO valuation was lower than expected by around $20 billion, and what he thought about the potential for the company’s valuation to increase after the IPO.

SoftBank was the first to invest in Paytm Parent One97 Communications In 2017, after which the payments firm was valued at around $7-8 billion. SoftBank invested about $1.4 billion in Paytm four years ago, a mix of primary and secondary share sales.

“I believe they (Paytm) can increase their value going forward (post IPO)… Not only Paytm but there are other businesses that we have high hopes for,” Son said. . SoftBank, which owns about 20% of Noida-based Paytm, will sell shares worth Rs 1,689 crore as part of an offer (OFS) of Rs 10,000 crore for sale in Paytm’s IPO, which closes on November 10.

Last week, Paytm
Rs 8,235 crore raised from anchor investors, or about 45% of the Rs 18,300 crore it wants to raise in total from the IPO. Top sovereign wealth funds and financial investors such as Singapore’s GIC, Canada’s CPPIB, BlackRock, Alkeon Capital, Abu Dhabi Investment Authority (ADIA) were among those who took stake in Paytm.