Paytm IPO: Fintech firm may skip a pre-IPO round to fast-track listing - Report
Zee News
Paytm may skip the pre-IPO round to expedite the listing process.
New Delhi: Fintech firm Paytm may skip the pre-IPO round to expedite the listing process, according to sources aware of the development. The company is targetting to launch Rs 16,600 crore IPO before Diwali and is looking for valuation in the range of Rs 1.47 - 1.78 lakh crore.
The sources involved with partners of the company in the IPO process said Paytm didn't want to add additional steps to the IPO and thus, is directly headed for the market listing.
"Pre-IPO is always just an option for companies heading for a market debut and it's not exercised by most companies. It makes sense to put the Pre-IPO option in the DRHP, as otherwise, the company cannot raise any primary capital. Companies end up not taking up the Pre-IPO option as it only delays the process,” said one of the sources.
