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.
BREAKING NEWS
TECHNO TRENDS
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
Making security more accessible, CP PLUS stands unrivaled as a
The topmost priority of CP Plus is to establish a dedicated R&D Hub in Indi
Elastic democratizing search with powerful AI and ML-enabled s
Elastic is always committed to staying ahead of the curve and constantly re
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
DIGISOL SYSTEMS LTD.
INFOSYS TECHNOLOGIES PVT. LTD.
BHARAT ELECTRONICS LTD.
PRAMA HIKVISION INDIA PRIVATE LIMITED
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SACHIN BANSAL
Sachin Bansal is an Indian entrepreneur. He is best known as the found...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
PARTNER SPEAKERS
PSU
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
VIDEOS
Top 25 Brands
Value-Added Distribution
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
