MUMBAI: The largest payment services provider in the country, Paytm, owned by One97 Communication, is planning a $3 billion initial public offering (IPO) later this year, a Bloomberg report said on Thursday.
The size of the IPO could be the largest ever in India’s capital market history dwarfing Coal India’s Rs 15,000 crore public offering of 2010. The Bloomberg report said that Paytm could seek a valuation of around $25 billion to $30 billion when it hits the primary market around Diwali.
That said, it is very likely that the Berkshire Hathaway-backed company will be a loss-making entity when the subscription window for the IPO opens for the public. In 2019-20, the payment services company reported a net loss of Rs 2,942 crore and burned cash from operations worth Rs 2,385.3 crore.