A source aware of the development told Business Insider that Paytm has appointed Goldman Sachs and JP Morgan as merchant bankers for its upcoming IPO.
Another report stated that the company has also hired in Morgan Stanley and ICICI Securities for the IPO. While CitiGroup Inc is also on the list of merchant bankers and advisors.
It is said that Paytm is likely to file a draft red herring prospectus (DRHP) with market regulator SEBI in July, while the company expects to debut in November this year.
However, Paytm has not made any public comment about the above-mentioned development.
Last month, Paytm received approval for launching its IPO to the tune of Rs22,000cr.