PayU IPO: Netherlands based PayU is preparing to enter the Indian stock market. PayU has planned to seek regulatory approval to launch an initial public offering of $500 million in February 2024 and for this the company has appointed advisors.
The company plans to be listed in the Indian stock market by the end of 2024
According to a report in Economic Times, sources having information related to this say that PayU has appointed Goldman Sachs, Morgan Stanley and Bank of America as advisors for the IPO. Apart from this, the company plans to get listed in the Indian stock market by the end of 2024. However, sources have said on the condition of anonymity that the company also plans to hire at least one Indian Investment Bank for this deal.
How much will be the value of IPO
PayU, Goldman and Bank of America declined to comment on this news, while Morgan Stanley also did not respond to questions related to this. It is estimated that the value of PayU’s IPO could be between $5 billion to $7 billion.
Know about PayU
PayU is a payment gateway owned by South African business group Process. It also offers services like buy now-pay later and competes with Tiger-Global-backed RogerPay and Walmart-owned PhonePe in this space. PayU’s IPO listing could be India’s biggest fintech listing in recent years. PayU had said in June that its India revenue had reached $399 million and had seen an impressive growth of 31 percent. The reason behind this was mainly the growth of small and medium sized businesses as well as enterprises.
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