Mobile Internet company, One97 Communications is planning to raise around $200 million through an initial public offering by December 2014.
The company has appointed investment banker Goldman Sachs for the same and existing investors are likely to participate in the public listing. So far, One97 Communications has raised $28 million from investors like SAIF Partners, Intel Capital and Silicon Valley Bank.
One97 Communications? flagship mobile payment application, Paytm had started off as an online mobile and DTH recharge site, and has currently been focusing on transforming into a mobile commerce company as well as a digital wallet service provider. It has over one million items from around 700 vendors across several categories.
