Paytm set to break into top 10 most-valued financial stocks in India

According to investment banking sources, the company is eyeing a valuation of between $20 billion and $25 billion

Digital payments major Paytm will be amongst the top 10 most-valued financial (banks included) stocks in the country when it gets listed later this year.

According to investment banking sources, the company is looking at a valuation of between $20 billion and $25 billion in the initial public offering (IPO).

One97 Communications, parent company of Paytm, on Friday filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India. The company is looking to raise Rs 8,300 crore by issuing fresh shares in its maiden stock market offering. The IPO will also comprise Rs 8,300