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Ant-backed Paytm targets $2.2 billion Indian IPO in booming e-payment market

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Reuters

By Vishwadha Chander and Chris Thomas BENGALURU (Reuters) -Indian digital payments leader Paytm, which counts Ant Group and Softbank among its backers, is seeking regulatory approval to raise up to 166 billion rupees ($2.23 billion) in one of the biggest stock market listings in the country. The offering, which values the company at up to $25 billion according to sources, comes at a time of a pandemic-fuelled boom in India’s digital economy and an intensifying battle for market share with Alphabet Inc’s Google Pay and Facebook Inc-owned WhatsApp Pay. The company, formally known as One97 Commun…

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