Thread by @BiIndia

#Exclusive: @Paytm ropes in @GoldmanSachs, @jpmorgan as bankers for upcoming IPO ⁠— there may be more along the way

#PaytmIPO

businessinsider.in/business/start…

By @Krittiiii

@Paytm @GoldmanSachs @jpmorgan @Krittiiii Digital payments giant #Paytm has appointed #GoldmanSachs and #JPMorgan as merchant bankers for its upcoming initial public offering (IPO), a source aware of the development told Business Insider.

#PaytmIPO

@Paytm @GoldmanSachs @jpmorgan @Krittiiii The fintech startup is looking to file its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) in July, and expects to make its debt in the public market by November 2021.

#Paytm #PaytmIPO

@Paytm @GoldmanSachs @jpmorgan @Krittiiii The company is also looking to appoint more merchant bankers and advisers such as Morgan Stanley and Citigroup Inc for the IPO. The company plans to raise ₹21,800 crore or $3 billion through this public offering, at a valuation of $25 billion to $30 billion.

#Paytm #PaytmIPO

@Paytm @GoldmanSachs @jpmorgan @Krittiiii This could be the largest IPO in India, surpassing Coal India Ltd’s offering to raise ₹15,000 crore ($2 billion at current conversion rate) in 2010.

#Paytm #PaytmIPO

@Paytm @GoldmanSachs @jpmorgan @Krittiiii Paytm is currently valued at $16 billion, after raising $1 billion in November 2019 from T Rowe Price, Ant Group and Softbank Vision Fund.

#Paytm #PaytmIPO