Indian digital payments app Paytm is aiming to launch its IPO by the end of Oct. The company has filed for a $2.2 bn IPO which could be the largest in India. Paytm also expects to reach the break-even point in the next 18 months, if there are no Covid-19 related impacts. Operating losses have been brought down from Rs 24.68 bn a year before to Rs 16.55 bn by the end-March 2021. Paytm is also promoting their payments hardware and software to merchants.
TikTok’s Chinese owner, ByteDance, has put its initial public offering (IPO) preparations on hold indefinitely. Before listing abroad, China’s regulators cautioned the firm about data security threats. More Chinese companies, according to observers, planning to list in the United States are reconsidering their plans due to the country’s increasing data security. ByteDance is among the 13 Chinese internet firms asked by the govt to adhere to data regulation and lending practices.
China’s biggest ride-sharing firm DiDi Global is closing its investor order books for a US IPO of $4bn, today, which is a day earlier than scheduled. The details have not been made public. The book will be closing at 5 pm in every region. Price range in the US was set to $13 to $14 per ADS for 288 mn shares. This will help raise $4.03bn. The company might sell another 43.2 mn shares to raise an additional $605mn. This will make DiDi worth $62.4bn to $67.2bn.
ADQ, the sovereign wealth fund of Abu Dhabi, is in talks to invest $500 mn in India’s e-commerce platform Flipkart. The fundraising, according to insiders, will happen ahead of the Walmart-owned platform’s mega IPO in 2022. Flipkart is looking to raise at least $3 bn from SoftBank Group, Singapore’s GIC, and Canada Pension Plan Investment Board and may decide to raise as much as $3.75 bn due to strong investors demand, according to the news reports.
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.
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.
Flipkart, the Bengaluru-based e-commerce giant, to raise $1bn at up to $30bn valuation in a pre-IPO financing round. Last year Flipkart’s GMV was impacted due to the nationwide lockdown but still finished Q4 with double the GMV of the full year. As many as 250 mn people shopped in India on the platform during last year’s festival season sales. Flipkart is planning on increasing its grocery delivery services.
Indian food tech startup Zomato has filed for an IPO to raise $1.1 bn. It has become the first Unicorn to file for an IPO in the country which is also the second-largest internet market across the globe. Zomato is a 12-year-old Gurgaon-based startup and has Info Edge and Ant Group among its investors. It clocked $183.6 mn in revenue between April 1 and Dec 31 2020 and made losses of $91.8 mn during the period. The startup employs 3,469 people across the globe.
Coursera opened 18% above the IPO price in its NYSE debut in the USA on Wednesday valuing the e-learning platform at $5.08 bn. The stock opened at $39, higher than the IPO price of $33 per share. During the latest fundraising round in July 2020, Coursera was valued at $2.57 bn. The US-based firm on Tuesday priced 15.7 mn shares at the upper end of the $30 to $33 range it had announced, raising around $519 mn.