This archive report was first published on 7 July 2021.
On July 12, Paytm's shareholders will vote on a $2.2 billion Initial Public Offering (IPO) plan, which, if approved, would be India's largest-ever debut.
The IPO will bring Ant Group's shareholding below 25%, and Paytm will have the option to raise the target to as much as $2.6 billion, according to regulatory guidelines.
Paytm, an Indian e-commerce payment system and financial technology company based in Noida, India, enables users to transfer money, pay bills, buy tickets, and secure small loans through its mobile wallet.
The firm is backed by SoftBank Group Corp., Berkshire Hathaway Inc., and Ant Group Co.
Paytm's valuation could fall between $24 billion and $30 billion if the IPO is successful.
