Paytm plans USD 3 billion-worth initial public offer

NEW DELHI: Digital payments giant Paytm is planning to come out with an initial public offer worth USD 3 billion later this year, according to sources.

The proposed Initial Public Offer (IPO), if successful, would be the largest such offer. Coal India’s Rs 15,200 crore-IPO in 2010 is the country’s largest one till date. The SoftBank and Alibaba-backed company is looking at raising about USD 3 billion (over Rs 21,700 crore) at a valuation of well over USD 25 billion, the sources privy to the development said.