![]() ![]() Its revenue rose more than 60%, boosted by strong growth in its financial, commerce and cloud services. Paytm reported its first financial results as a public company over the weekend, with losses widening to 4.74 billion rupees in the July-September quarter from a year earlier amid rising expenses. Paytm has the backing of top global investors, including Masayoshi Son’s SoftBank Group Corp., Warren Buffett’s Berkshire Hathaway Inc. According to reports, the company is aiming for a mid-November listing. The price band has been kept in the range of Rs 2080-Rs 2150 and it will open for bid on November 8 and close on November 10. One 97 Communications Ltd., Paytm’s parent company, raised $2.5 billion in its IPO but its debacle of a debut made it one of the worst initial showings by a major technology firm since the dot-com bubble era of the late 1990s. Paytm is set to raise Rs 18,300 crore from the markets through a fresh issue of Rs 8,300 crore and an offer for sale of Rs 10,000 crore. JM Financial has a sell rating on the stock, while Macquarie has rated it as underperform. Paytm dropped as much as 2.7% to 1,592 rupees on Thursday, a fifth day of declines, after plummeting 37% in the first two sessions of trading. The brokerage has set a target price of 2,500 rupees ($33.4), which is 16% higher than the company’s issue price. It positions the company as “one of the strongest digital brands to garner significant share of opportunities that will evolve in the Indian internet ecosystem,” they said. ![]() Customers will be able to use BHIM UPI on the app by linking their bank account with the UPI address. Users can pay for services at retail outlets, make online purchases and send and receive money through the app. Paytm’s “super app” has emerged from a pure “want” category to reach to the “need” status, Dolat analysts, led by Rahul Jain, said. Paytm is a popular digital payments app and one of India’s biggest mobile-based platform for cashless payments. ![]()
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