Paytm IPO: Fintech firm gets SEBI nod for mega Rs 16,600-crore offer

New Delhi: Digital financial services firm Paytm has received market regulator Sebi's approval for its Rs 16,600 crore initial public offer, a source involved in the process said on Friday.

The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing.

"Sebi has given approval for Paytm IPO," the source said on condition of anonymity.

The company's plan of shelving the pre-IPO raise is not related to any valuation differences, the source added.

Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore. Also Read: Centre tightening noose around inflation to push mustard oil prices down from February: Food Dept

US-based valuation expert Aswath Damodaran, who is a professor specialising in finance at the Stern School of Business at New York University, has valued the unlisted shares of the firm at Rs 2,950 apiece. Also Read: EFPO starts crediting 8.5% PF interest ahead of Diwali: Check how to withdraw money in 1 hour