Hopeful PayU India will be IPO-ready by H2 2024: Prosus interim CEO
Ervin Tu, interim CEO of Prosus, the Dutch-listed technology investment firm, and its parent Naspers, said he is hopeful of a public listing for PayU India by the second half of next year.
“We are working very hard to prepare the business (PayU India) to be in a listable form and aim to have it (ready) by the second half of next year,” Tu said.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisit ET had reported on August 2 that PayU was looking for a public listing of its business entities in India, even as it sold off a major subsidiary, PayU Global Payments Organisation, to Israeli payment processing firm Rapyd.
“We are growing very well not only on payments but on the credit side too,” Tu said. In his view, the public markets in India are very healthy. “There is great interest foreign investor and domestic investor base,” he added during a post-earnings call with reporters on November 29.
The Reserve Bank of India has asked PayU to apply afresh for a payment aggregator licence before onboarding merchants in India again.
