Paytm likely to be one of India's largest IPO in India

The One97 Communications board, the parent firm of India's leading digital payments player Paytm met on March 28 to discuss a potential public offering. However, according to a source, the company is not ready to announce the same as yet. "IPO came up for discussion," the source said. If it goes through, it is likely to be one of India's largest initial public offerings (IPO) in India.

The company was last valued at $16 billion when it raised $1 billion from Softbank and Ant Financial in 2019. One97 is likely to go for an IPO with almost double the valuation.

Of late, Paytm has been trying to acquire market share across a spectrum of financial services offerings by launching mutual funds, wealth management, stock trading, and insurance services. It has also applied for a New Umbrella Entity (NUE) license, as part of a consortium comprising Ola, IndusInd Bank, Zeta, Suryoday Small Finance, among others. It has also applied for a general insurance license.