Paytm plans to launch India’s biggest IPO later this year: Report

Leading digital payments service provider Paytm is reportedly planning to launch the biggest IPO in India valued at $3 billion. The company is targeting a valuation of around $25 to $30 billion with the IPO.

Leading digital payments service provider Paytm is planning to launch India’s biggest IPO, with an aim to raise $3 billion, later this year. The development was confirmed by a person familiar with the deal to Bloomberg. Paytm, which is backed by investors like Ant Group, Berkshire Hathaway and Soft Bank Group Corporation, has planned its listing around November, sometime during the Diwali festive season. The report added that Paytm is targeting a valuation of around $25 to $30 billion with the IPO. The One97 board is likely to meet tomorrow to formally approve the IPO plan, according to the report.