11-03-2021 02:40 PM | Source: Angel One Ltd
Quote on One 97 Communications Ltd (Paytm) IPO By Mr. Jyoti Roy, Angel One Ltd
Below is quote on One 97 Communications Ltd (Paytm) IPO By Mr. Jyoti Roy - DVP- Equity Strategist, Angel One Ltd
One 97 Communications Ltd. (PAytm) is coming out with an IPO of Rs. 18,300 crore at a price band of Rs. 2,080-2,150. The IPO will consist of an offer for sale of Rs. 10,000 crore and fresh issue of Rs 8,300 crores. The issue opens on 8th Nov 2021 and closes on 10th Nov 2021. Incorporated in 2000, One 97 Communications Ltd is India's leading digital ecosystem for consumers as well as merchants. In 2009, the company launched the first digital mobile payment platform, "Paytm App" to offer cashless payment services to customers and now, it became India's largest payment platform and the most valuable payments brand. It offers payment services, commerce and cloud services, and financial services to 337 million registered consumers and over 21.8 million registered merchants, as of June 30, 2021. Its software and cloud services allows large, medium and small merchants to improve their business operations and access important financial tools such as banking, wealth and credit facilities
At the upper end of the price band, Paytm is valued at 49.7x its FY21 revenues. While valuations may appear to be expensive, Paytm has become synonymous with digital payments through mobile and is the market leader in the mobile payment space. Patym is well positioned to benefit from the exponential 5x growth in mobile payments between FY2021 – FY2026 and hence believe that the valuations are justified. We recommend investors to SUBSCRIBE to the issue.
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