PayU Sets Sights On $6B Valuation for India IPO: Report

Prosus-backed fintech and payment processing firm, PayU, is planning to list in India next year, eyeing a valuation of around ₹49,374 crore ($6 billion), Moneycontrol reports.

PayU India reported a revenue of ₹3,291.6 crore ($400 million) for FY23, marking a 31% growth. The company’s valuation could range between ₹32,916 crore ($4 billion) and ₹49,374 crore ($6 billion), depending on its growth and profitability.

The company is expected to release a draft red herring prospectus (DRHP) by the end of this year or early next year. PayU appointed former Nykaa CFO, Arvind Agarwal, in November 2022 to guide the company through its IPO journey.

PayU’s parent company, Prosus, has been preparing to sell all its non-core assets since late last year to focus on the IPO. PayU’s Indian entity includes payment authenticating platform Wibmo and credit entity PayU Finance, a non-banking financial company.

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