据知情人士透露，Paytm将聘请摩根大通、摩根士丹利、高盛和印度工业信贷投资银行作为其承销商。
Niuniu knocks on the blackboard: Paytm currently has about 150 million users and 1.4 billion transactions per month. Together, Ant Group and BABA hold about 37 per cent of its shares.
Paytm, the Indian digital payments group, will hold a shareholders' meeting next month to approve the IPO plan, the Financial Times reported.
The Paytm plans to sell 120 billion rupees ($1.61 billion) of new shares, plus a potential overallotment of 1 per cent (for underwriters). IPO plans to raise about 218 billion rupees ($3 billion), possibly the largest IPO in India's history.
Paytm will hire JPMorgan Chase & Co, Morgan Stanley, Goldman Sachs Group and ICICI Bank Ltd as its underwriters, according to people familiar with the matter.
Paytm, officially known as One97 Communications, aims to value the offering at between $25 billion and $30 billion. In its last funding round in 2019, Paytm was valued at $16 billion.
Initial public offerings will include new and existing shares, with India requiring 10 per cent of shares to be listed within two years and 25 per cent within five years.
Shareholders include Berkshire Hathaway, Softbank Corp. Group and Ant Group.
Among them, Ant Group, as the largest shareholder, holds nearly 30% of the company. BABA and Ant Group together hold a total of shares in Paytm37%.
If reviewed by the Securities and Exchange Commission of India, Ant Group will reduce its stake by about 5 per cent before the IPO and during the IPO process and comply with the shareholding standard of less than 25 per cent.
Paytm currently has about 150 million users and 1.4 billion transactions per month, and its business has expanded from digital payments to banking, credit cards and financial services.
But it also faces stiff competition from rivals such as Alphabet Inc-CL C pay, Amazon.Com Inc pay and Walmart Inc's PhonePe.
Neil Shah, an analyst at Counterpoint, a technology research company, said:
Paytm almost ruled India five years ago, but its performance is now in decline.
Now it must seize the opportunity to carry out IPO, because the competition is becoming increasingly fierce, IPO may bring it some competitiveness.
Karan Sharma, co-head of digital and technology investment banking at Avendus Capital in Mumbai, believes that demand for IPO, a technology company, is very strong.
He said:
Companies listed on the Mumbai Stock Exchange have a combined market capitalization of more than $3 trillion, but there are few Internet companies for investors to choose from.
There is a lot of potential demand from global investors for emerging markets.
