Sunil Munjal, Saroj Poddar likely to invest in Paytm; may reach $6 billion in valuation
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Industrialists are now taking keen interest in If everything goes well, the investment will boost the value of Paytm's parent One97 Communications and may take its valuation of $6 billion.
Reportedly, Munjal, the chairman of
The deal will mark a partial exit for Vora who owns about 1.6 lakh shares - a 0.35% share - in the
"They (Munjal and Poddar) will buy Rs 50 crore worth secondary stock at Rs 8,000 per share," one of the persons cited above, told ET.
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Paytm, earlier received funding from Taiwan's
A boost in valuation can help the payments company - which has registered rapid growth in recent weeks due to the government's demonetisation exercise - command a better value when it seeks fresh institutional funding in the coming weeks.
Paytm has seen business boom with transactions going up from 2.5 million per day to 7 million in November.
The company is now focussed on growing its business in rural markets by offering local language support and new services for payments on feature phones.
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