With India’s largest IPO set to hit the markets soon, it has got many to sit up and take notice. India's leading digital payments and financial services platform Paytm is heading for a market debut with an aim to raise $2.2 billion.
Touted to be India's largest IPO, it got the gurus in the financial services industry excited. Aswath Damodaran, the award-winning Professor of Finance at the Stern School of Business at New York University, recently said in an interview with an Indian news channel that he would place his bets on Paytm.
Damodaran said that Paytm has some real potential because I think this is a business which is huge. Payment processing and financial services are huge and if I can get Paytm at the right price, I would want it in my portfolio, Damodaran said.
Damodaran teaches equity valuations at Stern, and is also referred to as the "dean of valuation." As per data till March 31, 2021, Paytm offers payment services, commerce and cloud services, and financial services to 333 million consumers and over 21 million merchants.
Paytm is the largest payment gateway aggregator in India based on total transactions.
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