Paytm IPO Opens Today; Valuations Lofty, Say Analysts

Indian online-payment platform Paytm is set to launch its initial public offer (IPO) on Monday despite apprehension about the lofty valuation the company is seeking, Mint reported on Monday, quoting analysts.

However, One 97 Communication Ltd, the company that runs the Paytm payments service, is among the best bets to ride the fintech wave in India, the analysts said.

The Paytm IPO, which opens for subscription today, aims to raise 18,300 crore rupees, or $2.46 billion, at a price band of 2,080-2,150 rupees ($28-$29), valuing the company at 1.39 trillion rupees ($18.73 billion) at the top end.

Read the full report: Mint

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.