Paytm said to target $3-billion IPO, largest ever for India: Report

If successful, Paytm's initial share sale would surpass Coal India Ltd.'s offering, which raised more than Rs 15,000 crore in 2010 in the country's largest IPO so far

Paytm, India’s leading digital payments provider, is aiming to raise about Rs 21,800 crore ($3 billion) in an initial public offering late this year, according to a person familiar with the deal, in what could be the country’s largest debut ever.

The startup, backed by investors including Berkshire Hathaway Inc., SoftBank Group Corp. and Ant Group Co., plans to list in India around November and its offering could coincide with the Diwali festival season, said the person, asking not to be named because the details are private. Paytm, formally called One97 Communications Ltd., is targeting a valuation of around $25 billion