Digital payments giant Paytm, one of India’s most valuable startups, plans to raise up to $2.2 billion in an initial public offering, it said in draft papers submitted to the country’s market regulator on Friday.
The Noida-headquartered firm — backed by Alibaba (which, alongside Ant Financial, owns 36% of Paytm), Berkshire Hathaway and SoftBank (owns about 18% stake) among others — said (PDF) it will issue new shares worth $1.1 billion and offer sale worth of $1.1 billion.
Paytm, which was until recently the most valuable startup in India, has said it may raise up to $268 million in a pre-IPO round. TechCrunch reported earlier this …
