Paytm founder Vijay Shekhar Sharma, has revealed that his company will be looking to get listed on the stock exchanges after 2021, when the company starts generating cash, reported Inc42.
The revelation by Sharma was made during India Mobile Congress function on Monay, where he reiterated more about the Paytm IPO plans.
According to a media report, Sharma said Paytm will be looking to get listed on the stock exchanges after 2021, when the fintech company starts generating cash.
“The plan was always to start thinking of an IPO 2022 onwards. I have always wanted to go for an IPO (initial public offering) after the company starts generating cash,” Sharma said.
Recently, a report by ET has suggested that Paytm is eyeing to raise a fresh funding round worth $2 billion from clutch of investors.
Read more: Paytm eyeing to raise fresh funding round of $2 billion from Alibaba, SoftBank, others: Sources
Based out of Noida, Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India.
The company had recently said that it has allocated INR 750 Cr to expand its monthly active users. The platform planned on targeting 250 Mn new customers, and onboard new merchants in Tier 2 and Tier 3 cities and towns.
To become earnings before interest, tax, depreciation and amortisation (EBITDA) positive, the company will have to earn to recover people and establishment costs.
In the growing line of Paytm, othe emerging startups under the similar roof include Fircent, LenDenClub, IndiaMoneyMart, Monexo, LoanBaba, CapZest, and i2iFunding.
Also read: Paytm achieves profitability at contribution level with $100 billion GTV