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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : Paytm gets regulatory approval for India's biggest ever IPO -source

10/22/2021 | 09:25am EST
Paytm app is seen on a smartphone in this illustration

NEW DELHI (Reuters) - Indian fintech firm Paytm has received approval from the capital markets regulator for its $2.2 billion stock market listing that is likely to be India's biggest ever IPO, a source familiar with the matter told Reuters on Friday.

Paytm was planning its initial public offering for around the end of October, Reuters previously reported.

The company, whose backers include Ant Group, SoftBank's Vision Fund and Berkshire Hathaway, narrowed its operating loss to 16.55 billion rupees ($221.00 million) in the financial year that ended in March 2021, from 24.68 billion a year earlier. A source told Reuters in July that Paytm was likely to break even in 18 months.

Several first-generation homegrown startups in India are preparing to go public on domestic bourses, following on the heels of food delivery firm Zomato which made a stellar stock market debut in July and which also counts China's Ant Group as a shareholder.

Ant Group, with a roughly 30% stake, is Paytm's largest shareholder.

Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option. Its use swelled further in 2016 when a ban on high-value currency bank notes boosted digital payments.

Paytm has since branched out into services including insurance and gold sales, movie and flight ticketing, and bank deposits and remittances.

($1 = 74.8880 Indian rupees)

(Reporting by Sankalp Phartiyal; editing by Jason Neely and Susan Fenton)

By Sankalp Phartiyal


© Reuters 2021
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 111 B 54 184 M 54 184 M
Net income 2022 1 476 B 13 083 M 13 083 M
Net Debt 2022 15 202 B 135 B 135 B
P/E ratio 2022 7,59x
Yield 2022 0,79%
Capitalization 9 526 B 84 250 M 84 471 M
EV / Sales 2022 4,05x
EV / Sales 2023 4,02x
Nbr of Employees 58 786
Free-Float 69,3%
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Technical analysis trends SOFTBANK GROUP CORP.
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Income Statement Evolution
Consensus
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Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 5 559,00 JPY
Average target price 9 862,00 JPY
Spread / Average Target 77,4%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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