PayTM, India’s largest digital payment company, could launch its IPO by the end of this year. According to data obtained by Live Mint, it will be the largest IPO ever. According to the person tracking the deal, PayTM can fetch an IPO of Rs 21,800 crore.
The IPO is due in November
Backed by Berkshire Hathaway Inc., SoftBank Group Corp. and Ant Company, PayTM can launch its IPO around Diwali in November this year. On the condition of anonymity, PayTM, which knows the names of LiveMint, One97 Communications, said it aims to raise $ 25 billion to $ 30 billion from this IPO. Members of the One97 Communication Board are likely to issue a formal formal stamp this Friday. Paytm declined to comment on the entire issue. In 2010, Coal India brought India’s largest IPO (Rs 15,000 crore).
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Citigroup, JPMorgan, is among the banks that PayTM has selected for its IPO. According to Live Mint, the process could begin in June or July. According to SEBI, when any company brings its IPO, the public has to pay 10 percent in the first two years and 25 percent in 5 years. The company can retain a maximum of 75% of its shares.
Google is getting tough competition from Pay and Phone
Paytm is currently getting tough competition from Google Pay, Phone Pay, WhatsApp Pay. Currently, PayTM has over 20 million business users. Paytm users conduct over 1.4 billion transactions every month. Vijay Shekhar, founder and CEO of the company, is looking for new services. The company plans to expand into credit cards, financial services and wealth management.
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