Paytm mulls scrapping pre-IPO sale plan on valuation differences: Report

The firm had been seeking a valuation of above $20 bn based on initial investor feedback, while advisers on the deal recommended a lower pricing

Paytm, the Indian digital payments pioneer backed by Jack Ma’s Ant Group Co., is considering scrapping the proposed Rs 2,000 crore share sale ahead of its initial public offering over valuation differences, according to people familiar with the development.

The firm had been seeking a valuation of above $20 billion based on initial investor feedback, while advisers on the deal recommended a lower pricing, some of the people said, asking not to be named as the information is private. The company was last valued at $16 billion, according to unicorn tracker CB Insights.

Formally called One97 Communications Ltd., Paytm hopes to tap