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E-commerce and digital payments giant Paytm will start preparations for an initial public offering (IPO) in the next 22-24 months, as per its founder and chief executive officer (CEO) Vijay Shekhar Sharma. He said that while a public listing was ‘inevitable’, it was yet to construct a road map for it.
The Indian firm had last raised funds, totalling $300 million according to regulatory filings, from Warren Buffet’s Berkshire Hathaway in 2018. Paytm’s valuation has jumped 25% to $15 billion in the latest investment round, founder Vijay Shekhar Sharma said in August 2019.
Paytm’s parent, One97 Communications Ltd, is India’s most valuable unicorn, or privately held startup with a valuation of $1 billion or more. Its backers include Masayoshi Son’s SoftBank Vision Fund and Alibaba Group’s Ant Financial.
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