Paytm, PolicyBazaar parent among 6 startups exploring global listing: Report
Indian companies hoping to list overseas are expecting details of the process to become clearer in the upcoming Union Budget.
January 25, 2021 / 09:55 AM IST
About six companies, including Paytm and EtechAces Marketing and Consulting, are considering an international listing, The Times of India reported. EtechAces Marketing and Consulting is the holding entity of Policy Bazaar and PaisaBazaar. These firms are awaiting detailed guidelines from the corporate affairs ministry and the revenue department.
The companies are expecting the details to be clearer in the upcoming Union Budget presentation.
The news report suggests that Etech Marketing and Consulting, last valued at $1.5 billion, has started the internal process for the Initial Public Offering (IPO) and is looking at the October timeline for the issue.
PolicyBazaar co-founder and director Alok Bansal told the newspaper that the company is inclined towards a domestic IPO but that a final call will be taken once the guidelines are clear.
While Paytm has also begun internal discussions, there is no timeline so far, the report suggested. At around $16 billion, the e-commerce payment system and fintech company is one of the most valued Indian startups.
Other startups, including restaurant aggregator and food delivery platform Zomato, logistics company Delhivery and fashion retailer Nykaa are expected to launch their IPOs over the next two years.
It was earlier reported that the corporate affairs ministry has identified seven international markets where Indian companies could get listed. The list includes the United States, the United Kingdom, and Japan.