PayU aiming to list in India next year, expecting a valuation of $6 billion: Report
By MYBRANDBOOK
The fintech company PayU is reportedly looking forward to listing in India next year. The company is looking at a valuation of $6-6.5 billion.
By the end of this year or early next year, the company may come out with a draft red herring prospectus (DRHP), said a source.
In November 2022, PayU had appointed former Nykaa Chief Financial Officer (CFO) Arvind Agarwal as its CFO and the move was to prepare the company for its IPO journey, a senior executive at PayU said.
In the financial year that ended in March 2023, PayU India recorded $400 million in revenue. The company registered a growth of 31%. Going by its growth and profitability, the company could seek a valuation of somewhere between $4-$6 billion, the source said.
The company could bring down the valuation if it is too much for the markets, the source added. However, the PayU executive said that it was too early to talk about valuations.
“They wanted someone who had the experience of taking the startup public in India to walk them through the complicated regulations that come with it,” the PayU executive added.
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