Ant Group-backed Paytm revises IPO target to $2.44 billion

Paytm, the Indian digital payments leader backed by Jack Ma`s Ant Group, has raised its public issue size to 183 billion rupees ($2.44 billion) from 166 billion rupees, according to its preliminary registration document filed with the market regulator.

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The IPO, likely to be the biggest in India`s corporate history, is set to open for subscription from Nov. 8 to Nov. 10.

In July, Paytm had sought regulatory approval to raise up to 166 billion rupees and sources had said the offering valued the company at up to $25 billion.