Indian online-payment platform Paytm is set to launch its initial public offer (IPO) on Monday despite apprehension about the lofty valuation the company is seeking, Mint reported on Monday, quoting analysts.
However, One 97 Communication Ltd, the company that runs the Paytm payments service, is among the best bets to ride the fintech wave in India, the analysts said.
The Paytm IPO, which opens for subscription today, aims to raise 18,300 crore rupees, or $2.46 billion, at a price band of 2,080-2,150 rupees ($28-$29), valuing the company at 1.39 trillion rupees ($18.73 billion) at the top end.
Read the full report: Mint
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