India, Aug. 22 -- Mumbai-based fintech PayNearby is reportedly planning for an initial public offering (IPO) in thenext financial year to fuel its expansion.
Chief executive and managing director at PayNearby Anand Kumar Bajaj told Reuters that the startup is in the process of finalising a merchant banker for the IPO, after which it plans to file a draft red herring prospectus (DRHP).
"We have met three merchant bankers and are in the process of identifying the one to go ahead with for the IPO. Then we will begin the process of filing the draft red herring prospectus," Bajaj told the publication in an interview.
Inc42 has reached out to Bajaj for comments on the development. The story will be updated upon receiving responses.
Bajaj fu...
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