The move comes as PayU India reported a significant growth in revenue, recording $400 million for the financial year that ended in March 2023, marking a 31 percent increase compared to the previous year. The company’s growth and profitability have positioned it for a potentially lucrative initial public offering (IPO), and it could seek a valuation between $4-$6 billion, although adjustments may be made based on market conditions.
To strengthen its leadership team for the IPO journey, PayU appointed Arvind Agarwal as its Chief Financial Officer (CFO) in November 2022. Agarwal’s expertise in taking Nykaa, a beauty and fashion retailer, public in November 2021, made him an ideal choice to navigate the complexities of the IPO process for PayU.
PayU’s journey towards an IPO aligns with Prosus’ strategic focus on streamlining its portfolio by divesting non-core assets and concentrating on the fintech sector. The company’s Indian entity includes subsidiaries such as the payment authenticating platform Wibmo and PayU Finance, a nonbanking financial company.
Diese Geschichte stammt aus der August 03, 2023-Ausgabe von The Business Guardian.
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Diese Geschichte stammt aus der August 03, 2023-Ausgabe von The Business Guardian.
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Saj Hotels limited IPO opens on 27th september, 2024
Our company is engaged in Hospitality industry.