Some of the former and existing employees of Paytm are planning to sell their shares worth $50 million to new investors.
According to reports, a group of Paytm employees have approached some investors for a deal.
The secondary Paytm share sale, which begins within few weeks, would see new investors coming on board as they would be acquiring the shares of employees. Prominent companies like Discovery Capital will be betting big on the sales share.
Industry experts said Paytm’s valuation is likely increase after the secondary sales share. Now the major investors of Paytm are Alibaba and SoftBank.
Last year Paytm had raised $1.4 billion from SoftBank. According to Paytm CEO and founder Vijay Sharma, the company will be eyeing international expansion through their US entry this year. Paytm has been in discussions with some of the ace investors in the US.
Paytm became one of the biggest companies in India post demonetization in 2016 as it witnessed manifold growth in transactions and number of users.