Paytm, backed by SoftBank, Berkshire Hathaway and Jack Ma’s Ant Group, plans to raise as much as Rs 166 billion from its share sale, according to its draft prospectus.
Performance of recent IPOs, such as Zomato, has fed enthusiasm. Money raised in 2021 surpassed totals of past 3 years. Now, Paytm, Flipkart & Byju's are considering IPOs too.
About 53 per cent of respondents from these Hindi-speaking states knew what Zomato is, which is significant. But it is well below the awareness for Paytm.
With China's crackdown on internet companies and India’s 625 million internet users just dipping their toes into the world of social networking & ecommerce, investors are turning their attention to India.
Paytm was last valued at $16 billion. If it hits its target, the IPO would be India's largest stock market debut ever, surpassing the debut of state-owned Coal India Ltd.
If successful, Paytm’s initial share sale would surpass that of Coal India, which raised more than 150 billion rupees in 2010 in the country’s largest IPO so far.
Several startups have emerged recently to signal the potential in India. Digital payments giant Paytm reached a valuation of $16 billion, making it the most valuable in the country.
The panel, which is looking into the Data Protection Bill, asked Paytm why servers with data of its customers are abroad when it claims to be an Indian firm.
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