Paytm IPO News: Digital financial services company Paytm has got approval from market regulator SEBI for an initial public offering (IPO) of Rs 16,600 crore. A source related to this process gave this information on Friday.
The company is expected to hit the stock market by the end of this month and is planning to drop the share sale before the IPO to get listed faster. The source said on the condition of anonymity, “SEBI has approved the IPO of Paytm .”
The source said the company’s decision to drop the fund raising plan before the IPO is not related to any valuation gap. Paytm is seeking a valuation of Rs 1.47-1.78 lakh crore. US-based valuation expert Ashwath Damodaran has valued the firm’s unlisted shares at Rs 2,950 per share.
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