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Paytm’s Rs 16,600-crore IPO gets SEBI’s approval, likely to be India’s biggest public issue

Digital financial services company Paytm on Friday received market regulator SEBI’s approval for its Rs 16,600-crore initial public offer (IPO), which will likely be the country’s biggest public issue. 


The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share-sale rounds to fast-track listing. 


“The SEBI has given approval for Paytm IPO,” said a source involved in the IPO approval process today on condition of anonymity. 


The company’s plan of shelving the pre-IPO mop-up was not related to any valuation differences, the source added. 


Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore. 


US-based valuation expert Aswath Damodaran – who is a professor specialising in finance at the Stern School of Business at New York University – has valued the unlisted shares of the company at Rs 2,950 apiece. 


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