Ltd, which owns Paytm, will soon find out if it can replicate Zomato’s dream run with its initial public offering (IPO). Paytm is offering to sell fresh shares worth ₹8,300 crore to the public as part of its ₹16,600-crore IPO. But unlike Zomato, Paytm cannot call itself a leader in the digital payments space. That said, Flipkart’s PhonePe and Alphabet Inc.’s Google Pay dominate the Unified Payments Interface (UPI) market. The rising share of UPI in digital payment transactions will keep Paytm among the leaders, but it does not help its core product—wallets.

Source: Mint July 18, 2021 16:07 UTC