Digital payments platform Paytm in talks to raise $268-M ahead of share sale

Digital payments firm Paytm is planning to raise USD 268 million in a funding round as it prepares for an initial public offering (IPO) later this year. Paytm will also seek to issue INR 8,300 crore worth of new shares. Its backers Alibaba and SoftBank will have the option to sell another INR 8,300 crore in stock. Paytm has hired JPMorgan Chase, Morgan Stanley , ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank for the IPO.