Report: India’s Paytm targets $3 billion IPO

The full version of the article, along with thousands like it, can be found on the following page: Report: India’s Paytm targets $3 billion IPO

Paytm

Indian FinTech player Paytm is aiming to raise about 218 billion rupees (approximately $3 billion) in an initial public offering late this year, Bloomberg News has reported, citing a person familiar with the matter.

The company, formally called One97 Communications Ltd, plans to list in India around November and is targeting a valuation of around $25 billion to $30 billion, the report said.

The One97 board plans to meet this Friday to formally approve the IPO, according to the report.

Paytm, backed by Japan's SoftBank Group, Warren Buffett's Berkshire Hathaway Inc and China's Ant Financial, did not immediately respond to a request for comment.

Its IPO plans come at a time when the COVID-19 pandemic has fuelled demand for digital payment platforms in India, intensifying a battle for market share with Google and Facebook Inc-owned Whatsapp Pay.

Paytm's CEO told reporters in January that the fintech firm could turn profitable this year and would soon look to list.

The start-up offers a digital payment platform for merchants, money transfers and bill payments across India.

You can read the Bloomberg News article here.

The team at Platform Executive hope you have enjoyed this article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Chandini Monnappa in Bengaluru. Editing by Aditya Soni.

You can stay on top of all the latest developments across the platform economy, find solutions to your key challenges and gain access to our problem-solving toolkit and proprietary databases by becoming a member of our growing community. For a limited time, our subscription plans start from just $7 per month. What are you waiting for?

This news article was published by Platform Executive, the home of the platform economy.

If you enjoy the content then please post a link on your website, or share on social media to help us get the word out.



Report: India’s Paytm targets $3 billion IPO posted first on https://www.platformexecutive.com/

Comments

Post a Comment

Popular posts from this blog

4 tips for bouncing back from a business hardship

Image
The full version of the article, along with thousands like it, can be found on the following page: 4 tips for bouncing back from a business hardship Hardships can affect even the most successful businesses. If you’ve recently suffered a major setback within your company, it’s okay to feel discouraged. While hardships can be tough, they shouldn’t stop you from bouncing back. If you’re ready to pull your business out of a rough patch, read on for four tips to help you get back on your feet! #1 GO BACK TO YOUR COMPANY'S ROOTS If your business has come this far, there’s bound to be something you’ve done right. Sometimes hardship comes when you’ve strayed away from your original concept. If you’ve been testing out some new ideas that seem to miss the mark, try going back to your first business model and rework a new plan from there. It’s important to remember where the heart of your company truly lies, and what sets you apart from rivals , such as: Your minimum viable product
Read more

The 6 best resources to learn about database management

The full version of this article, along with thousands like it, can be found here: The 6 best resources to learn about database management Database management is one of the most sought-after skills in the technology industry. Top companies such as Google and Amazon include it regularly in technical interviews. If you are new to database management or it’s been a while since you’ve practiced, you might want to brush up on your skills before your next job opportunity. […] This article was published by Platform Executive , the home of the platform economy. If you enjoy the content then please post a link on your website, or share on social media to help us get the word out. The 6 best resources to learn about database management posted first on https://www.platformexecutive.com/
Read more

Google, Facebook agreed to team up against possible antitrust action, draft lawsuit says

Image
The full version of the article, along with thousands like it, can be found on the following page: Google, Facebook agreed to team up against possible antitrust action, draft lawsuit says Facebook and Alphabet Inc's Google agreed to "cooperate and assist one another" in case of an investigation into their pact to work together in online advertising, the Wall Street Journal has reported. The WSJ report cited an unredacted version of a lawsuit filed by 10 countries against Google last week. The nations had accused Google of working with Facebook within an unlawful manner that violated antitrust law to improve its already-dominant online advertising business. According to the report, the lawsuit said that Google and Facebook were aware that their arrangement could trigger antitrust investigations and discussed how to cope with them. A Google spokesperson told the Journal that such agreements over antitrust threats are incredibly common. The unredacted draft edition
Read more