If the share sale goes through, Paytm will cement its position as the second-most valuable start-up in India, behind only Flipkart, which is valued at $12.6 billion. Paytm was valued at about $7 billion in May 2017 when it raised $1.4 billion from Japan’s SoftBank Group Corp. Paytm Payments Bank, which now houses the electronic wallet business, plans to roll out several financial services products. The company has been growing steadily and currently houses four different products under the One97 stable—Paytm Mall, Paytm Payments Bank, Paytm Money and Paytm Wallet. Last year, SoftBank bought shares worth roughly $2 billion from investors in Flipkart and Paytm.

Source: Mint January 23, 2018 02:03 UTC