One97 Communications, the parent company of Paytm, has filed a draft red herring prospectus with SEBI, capitalizing on the stock market boom and rising digital transactions. It is all set to open for its IPO.
Paytm (Rs. 16,600 Cr) will be India’s largest IPO issue followed by Coal India (NS:) (Rs.
15,200 Cr) and Reliance Power (NS:) (Rs. 11,000 Cr).
Paytm (“pay through mobile”) is a financial technology and digital payment system company based in Noida.
Paytm is available in 11 Indian languages and offers online services such as movie, and event bookings, utility bill payments, travel booking, mobile recharges, as well as Paytm QR code used for in-store payments at restaurants, parking, tolls, grocery stores, fruits, and vegetable shops, educational institutions, and pharmacies.
Paytm Wallets: Paytm collects a commission from network providers in exchange for allowing recharges and bill payments. Paytm earns interest on the money we keep in our e-wallet by opening an escrow account with one...read more...