Paytm, India's leading digital payments provider, is aiming to list around Diwali, sources informed CNBC-TV18. The DRHP filing will be done in June-July and the company is aiming for a valuation of over $25 billion, they said.

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The startup will be backed by some of the largest investors such as Berkshire Hathaway, Soft Bank, Ant Group.

The issuance will include secondary sale by Paytm's investors on pro-rata basis. Post board approval, Paytm investors will need to approve IPO-related aspects.

Paytm will likely split its stock as part of the IPO process.

The board of its parent group, One97 Communications, will formally approve the listing valuated around $25-30 billion this Friday. Post-approval by the board, the IPO would be the largest in the country, surpassing Coal India's Rs 15,000 crore offering.

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The lead managers of the IPO include Morgan Stanely, Citigroup, JPMorgan Chase, with Morgan Stanely being the leading contender. The procedure for listing is expected to begin in July.

As of April 2021, Paytm is the most valued startup in the country, worth $16 billion. The payments provider achieved over 1.4 billion transactions in March (transactions including payments via wallet, UPI, cards, and net banking services). It is one of the largest enablers of digital payments in the country, with over 20 million merchants preferring Paytm over its competitors.

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In an exclusive interview with CNBC-TV18, its founder Vijay Shekhar Sharma had said pandemic is one of the biggest drivers for digital payments.

Paytm is set for an #IPO this year.Here is what @Paytm founder @vijayshekhar told us in April:"Will break even by end of 2021 & will then look at at IPO opportunities""All options (including SpAC, intl listing, domestic listing) will be on the table"#PaytmIPO pic.twitter.com/tKcVzXyszN

— CNBC-TV18 (@CNBCTV18News) May 28, 2021

Paytm expects to breakeven by the end of 2021, he had said then.

"We as a company will reach breakeven by the end of this financial year or this calendar year, which is 2021 and once we have reached the breakeven point we will quickly see the opportunities," Sharma had said.

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(Edited by : Anshul)

First Published:May 27, 2021 4:44 PM IST