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Paytm IPO: JP Morgan, Morgan Stanley, Goldman Sachs likely onboard

Earlier this month, Paytm's board had given an in-principle approval to raise around Rs 22,000 crore through its IPO

Paytm enlists investment bankers for IPO Paytm enlists investment bankers for IPO

One97 Communications, the parent company of Paytm has roped in some of the most influential investment bankers for its proposed initial public offering (IPO). JP Morgan, Morgan Stanley, Goldman Sachs and ICICI Securities are likely to lead the issue, touted to be the largest IPO in the financial sector.

Paytm is yet to comment on the appointment of the investment bankers.

The fintech giant is looking to file its draft red herring prospectus as early as next month, according to a report in Bloomberg. Paytm had made its IPO plans official after reaching out to employees and giving them a chance to tender their shares under the forthcoming issue as part of an offer for sale shares.

Earlier this month, Paytm's board had given an in-principle approval to raise around Rs 22,000 crore through its IPO. The company is looking at an enterprise value of over Rs 2 lakh crore for the IPO.

Some of Paytm's shareholders include Alibaba's Ant Group (29.71 per cent), Softbank Vision Fund (19.63 per cent), and Saif Partners (18.56 per cent). Vijay Shekhar Sharma holds 14.67 per cent stake in the company. AGH Holding, T Rowe Price and Discovery Capital, Berkshire Hathaway also hold stakes in the company.

Led by founder and Chief Executive Officer Vijay Shekhar Sharma, Paytm has been raising revenue and monetising its services over the past one year. The company has expanded beyond digital payments into banking, credit cards, financial services, wealth management and digital wallets.

Also read: Paytm board gives in-principle approval for Rs 22,000 crore IPO

Also read: IPO-bound Paytm sends 'offer for sale' to employees, to file draft prospectus in July