Paytm's IPO plan comes at a time when several first-generation homegrown startups in India prepare to go public on domestic bourses
The country is in an exciting phase of growth and the economy is expected to add USD 2.5 trillion in the next 5-10 years, Paytm founder and CEO Vijay Shekhar Sharma said on Saturday.
Market players say strong stock market debut will prompt VC and PE firms to back more domestic startups, apart from motivating more unicorns to resist the temptation to list in the US
Fintech major Paytm had tweeted that "some Paytm services are affected due to global outage at Akamai".
Views follow a stellar response to India's first unicorn IPO by food delivery company Zomato, which was subscribed nearly 40 times
In Q1FY22, Paytm's GMV hit Rs 1,46,900 crore, from Rs 69,700 crore in the same period last year
India had $6.3 billion of deals for technology startups in the second quarter, while funding to China-based companies dropped 18% from a peak of $27.7 billion in fourth quarter
Business Standard brings to you the top headlines on Saturday
The firm's GMV increased to Rs 4.03 trn as of March 31, 2021, from Rs 2.29 trn as of March 31, 2109
According to investment banking sources, the company is eyeing a valuation of between $20 billion and $25 billion
Ant Financial, Alibaba, Elevation Capital V, Saif III Mauritius, Svf Panther (Cayman) and Bh International Holdings are looking to offload some part of their shares through the OFS
SoftBank-backed Paytm has filed for an initial public offering of up to $2.23 billion, draft papers submitted to the country's market regulator showed on Friday
All-time high not far away with Paytm planning fresh issue of Rs 12,000 cr
Start-up listings will open up opportunities
According to Securities and Exchange Board of India regulations, the DRHP or offer document is required to have details about directors, promoters and key management personnel
Vijay Shekhar Sharma declassified as promoter; the company will raise Rs 2,000 cr before IPO
Paytm's wholly-owned arms are also being run by key leaders, including Varun Sridhar, who heads Paytm Money, Satish Gupta (Paytm Payments Bank) and Vineet Arora (Paytm General Insurance)
Business Standard brings to you the top headlines on Saturday
Paytm is headed for a $2.3-billion IPO by the end of 2021
The report adds that NPCI's recent norm that limits digital payment apps' share in the overall volume of transactions on the UPI at 30% would impact PhonePe and Google Pay more than Paytm