The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing.
New Delhi, Digital financial services firm has received market regulator Sebi’s approval for its Rs 16,600 crore initial public offer, a source involved in the process said on Friday. The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing. « Sebi has given approval for, » the source said on condition of anonymity. The company’s plan of shelving the pre-IPO raise is not related to any valuation differences, the source added. The proposed IPO, if successful, would be the largest such offer. Coal India’s Rs 15,200-crore initial public offer (IPO) in 2010 is the country’s largest one till date. Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore. US-based valuation expert Aswath Damodaran, who is a professor specialising in finance at the Stern School of Business at New York University, has valued the unlisted shares of the firm at Rs 2,950 apiece.
