Paytm’s valuation should be higher than when we invested in it: SoftBank CEO

SoftBank founder and CEO Masayoshi Son said Paytm’s initial public offering (IPO), which opened for subscription on Monday, should be a “great event” for the Japanese investment giant.

“I believe Paytm should grow significantly… and valuation-wise. Of course, it depends on market conditions and investors’ appetite,” Son told reporters after announcing SoftBank’s earnings on Monday. “Either way, I believe the valuation (of Paytm during IPO) should be bigger than the cost that we spent when we made an investment (in the company). So, for us, the IPO should be a great event.”