Paytm is mounting India’s biggest IPO but beware of bumps ahead

Paytm, formally known as One97 Communications Pvt. Ltd, has morphed into a full-stack financial products platform from a digital wallet provider within a few years. Its plans to go public by the end of this year, if followed through, would add credence to the company’s seriousness in being a market leader in the fintech space.

According to media reports, Paytm is looking to float an initial public offering (IPO) worth a staggering $3 billion ( ₹21,700 crore) by November. This would value the firm at $24 billion ( ₹1.74 trillion). In its previous funding round of $1 billion in November 2019, the firm was valued at $16 billion.