SoftBank’s Masayoshi Son is bullish on Paytm IPO amid muted launch

Bengaluru: Paytm’s initial public offering (IPO), which opened to muted response on Monday, should be a “great event” for investor SoftBank Group Corp., according to its chief executive.

“I believe Paytm should grow significantly…and valuation-wise. Of course, it depends on market conditions and investors’ appetite,” Masayoshi Son told reporters after announcing the Japanese firm’s September quarter earnings. “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.”