Paytm Is Considering Cancelling Its Pre Ipo Sale Strategy Due To Valuation Discrepancies
According to persons familiar with the situation, Paytm, the Indian digital payments pioneer backed by Jack Ma’s Ant Group Co. is considering canceling its planned 20 billion rupee ($268 million) share sale ahead of its initial public offering due to valuation disparities. According to several of the people who did not want to be identified because the material is confidential, the firm had been seeking a valuation of more than $20 billion based on early investor reaction, while advisers on the sale advocated a lower price....