India’s top digital payment app Paytm is looking to raise over $3 bn in IPO later this year which might be around the Diwali festival. The company is aiming for a total valuation of $25 bn to $30 bn from this IPO. If Paytm succeeds, it might surpass Coal India’s Rs 10,000 cr IPO of 2010. JP Morgan Chase and co, Morgan Stanley, and Citigroup are the banks shortlisted to support the IPO. Paytm will float 10% shares in the next two years and 25% in the next five years.