T Rowe hikes Paytm’s valuation by 35% to take enterprise value to $16 billion

US-based mutual fund T Rowe has raised Paytm’s valuation by about 35 per cent to $255 per share, taking the total enterprise value of the Indian digital financial services firm to $16 billion, according to a regulatory filing.

T Rowe Price Communications and Technology Fund has valued its investment in One97 Communications (operates under brand name Paytm) at $82,16,610 for 32,222 shares, according to a SEC filing of the company.

This implies that the value of each Paytm share was $255 as on September 30, 2020.

The mutual fund company had earlier cut down the valuation of Paytm to $188 a share due to the impact of the Covid-19 pandemic.