Paytm IPO: JP Morgan, Goldman Sachs among 4 banks roped in for public offering

Paytm's board has roped in four banks for helping with its proposed $3 billion initial public offering (IPO). The firm is looking to file its draft red herring prospectus for the public offering as early as July.

Popular digital payments firm Paytm is making steady progress towards launching its bumper $3 billion initial public offering (IPO) later this year. The board of the startup has roped in four banks including JP Morgan Chase & Co. and Goldman Sachs Group Inc. for the public offering. Paytm’s board has also approved Morgan Stanley and ICICI Securities Limited to help with the sale, reported Bloomberg, quoting people familiar with the matter. However, Paytm has not officially commented on the appointment of the banks as of now.