Paytm will consider listing on the stock exchanges only after 2021 when the financial services and e-commerce firm is expected to start generating cash, founder Vijay Shekhar Sharma said.
“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.
Paytm’s losses for 2018-19 (Apr-Mar) nearly tripled to Rs 4,217.20 crore from Rs 1,604.34 crore in the year-ago period, according to the Noida-based firm’s annual report, LiveMint reported. The company has changed its strategy in terms of discounts and cashback and now provides ecosystem offers on Paytm Mall instead of giving just outright cashback.
According to Sharma, at present, Paytm’s e-commerce operations Paytm Mall, which was hived off in 2016, is adequately funded, and the company plans to use the money for expansion. “We have money in the bank, around $260 million in the bank. We will invest about $250 million in the Paytm Mall business,” he added.
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