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SoftBank asks Paytm to launch an IPO in five years

Published
today Nov 14, 2019
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Paytm’s investor SoftBank Vision Fund has given the digital payments and e-commerce business new terms and conditions that it must launch an initial public offering within five years.

Paytm could be on the road to an IPO - Paytm- Facebook


SoftBank Vision Fund is investing in Paytm again in its latest funding round but has added a new stipulation that the One97 Communications-owned business must launch an IPO in five years, sources told ET Bureau. Should Paytm fail to do so, SoftBank Vision Fund will be able to sell its stake in the business to a rival company, according to the sources. 

"After a few rounds of negotiations, these terms have been agreed upon and the deal is nearing closure,” the source told ET Bureau. “A listing condition is common among financial investors. The Japanese company feels that Paytm has reached a stage where such a term can be included."

Other investors expected to join the current funding round include the US business T Rowe Price and Alibaba Group’s Ant Financial.

One97 Communications reported losses totalling Rs 3,959.6 crore ($595.2 million) in the 2019 financial year which ended in March. This was a large year-on-year increase compared to losses of Rs 1,490 crore in the 2018 financial year. Revenue did rise however from Rs 3,229 crore in the 2018 financial year to Rs 3,319 crore in the 2019 financial year.

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