logo |

News

    Home   >     Industry    >     Main body

    Paytm Gets Green Light from Regulators to Launch IPO

    Abstract:Paytm, an Indian fintech firm, has been granted approval from the domestic capital markets watchdog for its forthcoming $2.2 billion stock market listing. If plans go ahead, the listing is set to be the biggest ever initial public offering (IPO) held in India.
    Flag_of_India_New_Delhi.jpg

      Paytm Gets Green Light from Regulators to Launch IPO

      The IPO is set to be the biggest ever held in India.

      Paytm, an Indian fintech firm, has been granted approval from the domestic capital markets watchdog for its forthcoming $2.2 billion stock market listing. If plans go ahead, the listing is set to be the biggest ever initial public offering (IPO) held in India.

      According to Reuters, the company has been planning to launch the IPO by the end of the month. Backers of the fintech firm include Ant Group, SoftBank‘s Vision Fund, and Berkshire Hathaway. Due to the operating losses that it witnessed in the financial year that ended in March 2021 of around $221 million, it’s expected that it goes to break even in about 18 months.

      The firm follows the path of other fintech companies like Zomato that made a successful debut in the stock market in July, with Ant Group as one of its backers. Paytm received a boost in its popularity and revenues after the private transport giant Uber listed the firm as a quick payment option among its offerings.

      Moreover, the company diversified its portfolio by offering services like insurance and gold sales, movie and flight ticketing, among others. Ant Group has a 30% stake in Paytm, becoming the largest stakeholder to date.

      Indian Fintech Sector Nowadays

      Finance Magnates reported early this year that the Indian fintech sector attracted $647 million investment across 33 deals during the quarter, ending 30 June 2020. The country attracted $1.46 billion in fintech investments during the first half of 2020, which is a 60% jump compared to $919 million for the same period in 2019.

      BharatPe, Indias leading fintech startup, raised nearly $108 million in Series D funding from several investors. The sector is growing exponentially in the country amid the COVID-19 pandemic and a major shift towards a cashless society. “FinTech has been known for their coming of age technology owning towards offering the most convenient and flexible options for consumers. It is not surprising that going forward, financial services will offer a customized and local offering to their customers using data analytics. The more and more advances in technology financial services adapt to upgrade their strategies, more growth in this sector is foreseen. This is just the beginning of a huge FinTech market in the upcoming decade,” RBSA Advisors stated in the report.

    pasted
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.