Paytm Seeks $2.5B In India’s Biggest-Ever IPO

Indian digital payment firm Paytm is looking to make history. Not only has it shown unprecedented growth in recent years, growing in value by over 25% since 2020, but if it is successful in reaching its goal of $2.5 billion in additional funding through its IPO, it will break the IPO record in its home country.

Like a great many digital payment service providers, Paytm credits its recent success to increased hygiene and distancing protocols in the age of COVID-19. The government of India has sought to discourage the use of cash in recent years, making digital payment platforms an integral component of doing business, a local grocery store owner reported to the Agence France-Presse news agency.

Become a Subscriber

Please purchase a subscription to continue reading this article.

Subscribe Now

The rising popularity of paying online, particularly for smaller sums used for taxis and the like, has opened significant inroads for firms such as Paytm. Launched only a decade ago, Paytm has already grown to become the most valuable tech company in India, earning a $20 billion appraisal earlier this year. With financial analyst firm Motilal Oswal predicting annual mobile digital payments in India exceeding $3 trillion within the next five years, Paytm seems to have nowhere to go but up.