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Ant Group-backed Paytm revises IPO target to $2.44 billion

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Paytm IPO News: Digital payments leader is backed by Jack Ma’s Ant Group

Digital payments leader Paytm, backed by Jack Ma’s Ant Group, has increased the size of its public offering from Rs 16,600 crore to Rs 18,300 crore, according to its preliminary registration document filed with the markets regulator.

The IPO, likely to be the biggest in India’s corporate history, is set to open for subscription from November 8 to November 10.

In July, Paytm had sought regulatory approval to raise up to Rs 16,600 crore and sources said the company was valued at up to $25 billion.

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