Mumbai: One97 Communications, the parent firm of Paytm, has finalised shareholders for the planned initial public offering (IPO).
The business is known to have accepted board JP Morgan, Morgan Stanley, ICICI Securities and Goldman Sachs to direct the matter, and it is very likely to be the biggest IPO in the fiscal industry.
Paytm denied to comment on the appointment of their investment bankers.
Resources stated that Paytm was considering submitting its draft red herring prospectus as soon as a month, suggesting that a whole lot of groundwork has gone in the IPO.
The fintech had created its IPO plans after hitting out to workers, giving them an opportunity to tender their shares below the coming problem as part of their deal available (OFS) stocks.
The firm had stated that the problem may be a mixture of the OFS by existing investors in addition to brand new shares.
According to a Bloomberg report, Paytm is aiming at a rate of about $25-30 billion (Rs 1.8-2.2 lakh crore).
There were other reports estimating that the worth at approximately $20 billion (approximately Rs 1.5 lakh crore), as contrary to the evaluation of $15 billion (Rs 1.1 lakh crore) through a fundraise in 2019.
One of non-banks, Bajaj Finserv includes a valuation of Rs 1.9 lakh crore.