Indian payments giant Paytm has filed to go public.
In Brief:
According to papers it plans to raise up to $2.2bn.
It has submitted an application of India’s regulator.
It plans to issue new shares worth $1.1bn and offer sale worth $1.1bn.
What does this mean?
Paytm has already raised enough privately to become one of India’s biggest startups, and has also said it may raise a final private round before the IPO takes place. Funds from both raises will reportedly be spent on developing its payments services offering and entering into new initiatives, including acquisitions.
