Paytm targeting biggest-ever IPO in India

Paytm, India’s leading digital payments provider, is aiming to raise about ₹21800 crore in an initial public offering late this year, according to a person familiar with the deal, in what could be the country’s largest debut ever.

The startup, backed by investors including Berkshire Hathaway Inc., SoftBank Group Corp. and Ant Group Co., plans to list in India around November and its offering could coincide with the Diwali festival season, said the person, asking not to be named because the details are private. Paytm, formally called One97 Communications Ltd., is targeting a valuation of around $25 billion to $30 billion.