Indian Fintech start-up BDM aims to raise about $ 218 billion ($ 3 billion) in an initial public offering (IPO) later this year, information announced on Thursday.
Paytm plans to raise Rs 21,800 crore ($ 3 billion) from the market through an IPO.
Sources close to the case said that the company plans to launch an IPO around Diwali. If it wins, it will be the largest IPO in the country so far.
Paytm IPO price.
The record is currently held by Coal India, which raised Rs 15,000 crore from its IPO in 2010.
The company, formerly known as One97 Communications Limited, plans to list in India in November and is estimated to be worth about $ 25 billion to $ 30 billion, the report said.
The One97 Board is scheduled to meet formally on Friday to approve the IPO, the report said.
Paytm did not immediately respond to a request for comment, with the support of Japan’s Softbank Group (9984.T), Warren Buffett’s Berkshire Hathaway Inc. (PRKAN) and China’s Ant Financial.
Indian Fintech start-up BDM aims to raise about $ 218 billion ($ 3 billion) in an initial public offering (IPO) later this year.
paytm ipo date.
BDM CEO told Reuters in January that Fintech expects to make a profit this year and will be listed soon.
The launch provides a digital payment platform for merchants across India, money transfer and bill payment.
Among the banks selected for Paytm’s IPO operations are
1. Morgan Stanley.
3. J.P. Morgan Chase & Co.
Of those, Morgan Stanley’s claim is the strongest. The process could be expedited by the end of June or July