Startups

Ahead of Paytm IPO, Vijay Shekhar Sharma says Indian exchanges are the best places for startups to list

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Ahead of filing for initial public offering (IPO), Paytm boss Vijay Shekhar Sharma is all praises for Indian exchanges. Praising the government, regulators and policy makers, he says Indian exchanges are the best places for Indian startups to list.

The comment comes after Niti Aayog CEO Amitabh Kant expressed his delight that several startups are listing in the Indian stock markets and he further pointed out, “this demonstrates the vibrancy & dynamism of our Startup movement.”

On Wednesday, Kant took to Twitter to say, Delighted that Indian Startups- Delhivery ,Nykaa, Paytm & Zomato will be listing in the Indian stock markets & raising growth capital through IPOs. This demonstrates the vibrancy & dynamism of our Startup movement & the maturity of our capital markets. Remarkable move!

Responding to it, Sharma said, Totally agree sir ! Indian exchanges are the best places for Indian startups to list. Strong winds of positive change from our government, regulators and policy makers.

Earlier this week, a Reuters report said, One97 Communications Ltd, the parent of Indian payments firm Paytm, will file a draft prospectus as early as 12 July for a IPO that seeks to raise $2.3 billion.

The money will be raised via sale of new Paytm stock as well as a secondary offering of shares at an expected valuation of $24 billion to $25 billion with an option to raise the amount at a later stage if required, the people said, declining to be named as the matter is not public.

Paytm’s proposed $2.3 billion IPO will make it India’s third-biggest public listing in dollar terms after state-run miner Coal India Ltd in 2010 and Reliance Power Ltd in 2008.

The prospectus will be filed shortly after Paytm’s extraordinary general meeting (EGM) of shareholders in Delhi on 12 July, possibly on the same day.

However, Paytm declined to comment, the news agency stated.

(With inputs from agencies)

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