Paytm eyes up to $20-billion valuation in biggest Indian IPO

Mumbai | Bengaluru: Paytm’s initial public offering (IPO) — billed as the largest ever in India — is set to value the firm at about $19.5-$20 billion when it opens for subscription on November 8.

The company has called the valuation “rational and fair” even as it maintained that it could have priced itself higher based on interest from external investors in the lead up to the IPO.