Friday, 24 March, 2023

Paytm board gives in-principle approval for Rs 22,000 cr IPO

<p>Paytm board has granted in-principle permission of Rs 22,000 cr IPO. In the quarter ending December this year, the digital payment app plans an IPO to raise anything between Rs 21,000 cr to Rs 22,000 cr. This will also provide an opportunity for existing investors to offload their stakes. Paytm claims to be 30-50% bigger than rivals with 1.4 bn daily transactions. In FY19-20 it reported a 40% YoY reduction in losses and growth in revenue to Rs 3,629 cr YoY.</p>