Digital financial services company paytm has got approval from market regulator SEBI for an initial public offering (IPO) of Rs 16,600 crore. A source related to this process gave this information on Friday.

The company is expected to hit the stock market by the end of this month and is planning to drop the share sale before the IPO to get listed faster. The source said on the condition of anonymity, Sebi has approved the IPO of Paytm.


The source said the company's decision to drop the fundraising plan before the IPO is not related to any valuation gap. paytm is seeking a valuation of Rs 1.47-1.78 lakh crore. US-based valuation expert Ashwath Damodaran has valued the firm's unlisted shares at Rs 2,950 per share.


The Securities and Exchange Board of india (SEBI) has given its approval for the IPO of paytm, which is believed to be India's biggest IPO ever. The company can get its shares listed in the stock market by mid-November. Noida-based paytm, backed by Berkshire Hathaway Inc and Jack Ma's Ant Group, will surpass Rs 15,000 crore IPO by state-owned Coal india Ltd in 2013 if it achieves its IPO target of Rs 16,600 crore.


Paytm has said in its draft red herring prospectus that it plans to sell an equal number of new and existing shares. paytm is the largest player in India's merchant payments market, with over 20 million merchant partners registered in its network. paytm users do 1.4 billion monthly transactions.

మరింత సమాచారం తెలుసుకోండి: