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SoftBank-Backed Paytm Targets Record $2.2 Billion India IPO

  • The payments pioneer is shooting for India’s largest IPO
  • Paytm follows on the heels of Zomato’s hugely popular offer
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Paytm, the Indian digital payments pioneer backed by SoftBank Group Corp., is seeking approval for a $2.2 billion initial public offering that could be India’s largest.

The startup backed also by Berkshire Hathaway Inc. and Jack Ma’s Ant Group Co. plans to raise as much as 166 billion rupees ($2.2 billion) from its share sale. The IPO will include an equal amount of new and secondary shares, according to a Draft Red Herring Prospectus filed with the regulator on Friday.