Paytm has $500 mn ready cash, IPO timed to expand lead in fintech: Sources

IPO will foster public and institutional investors' trust, and seal the company's position as India's largest fintech player

IPO-bound Paytm has $500 million worth of cash in the bank, and is looking to go public in order to expand its lead position in the fintech space in India, according to sources.

"Paytm’s IPO is well-timed as it will help the company boost its financial services, while it has already built a multi-stack payment ecosystem. The IPO will bring in public and institutional investors’ trust and ensure the company’s role in being India’s largest fintech player," said a person familiar with the company's IPO plans.

Paytm did not respond to a request for comment.

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