Paytm mulls scrapping pre-IPO sale plan on valuation differences

Paytm, the Indian digital payments pioneer backed by Jack Ma’s Ant Group Co., is considering scrapping the proposed 20 billion rupees ($268 million) share sale ahead of its initial public offering over valuation differences, according to people familiar with the development.

The firm had been seeking a valuation of above $20 billion based on initial investor feedback, while advisers on the deal recommended a lower pricing, some of the people said, asking not to be named as the information is private. The company was last valued at $16 billion, according to unicorn tracker CB Insights.