CosmicTaco

PayU Delays IPO Plan to Next Fiscal Year

CosmicTaco · 2024-10-21T08:15:04.668710+05:30

- Digital payment platform **PayU** has deferred its IPO plan to the next fiscal year. - The company had previously planned to go public in H2 2024, but has now extended this timeline. - **PayU** regained its payment aggregator license in April this year after it was returned by the RBI due to its complex corporate structure. - The company has a base of over 500,000 merchants in India and generates over $60 billion in annualized transaction volume. - Despite a slow revenue growth and slipping into losses, **PayU** is eyeing profitability and has laid off around 100 employees from its credit team. Source: [Entrackr](https://entrackr.com/2024/10/exclusive-payu-defers-ipo-plan-to-next-fiscal-year/)

Digital payment platform PayU has deferred its IPO plan to the next fiscal year.
The company had previously planned to go public in H2 2024, but has now extended this timeline.
PayU regained its payment aggregator license in April this year after it was returned by the RBI due to its complex corporate structure.
The company has a base of over 500,000 merchants in India and generates over $60 billion in annualized transaction volume.
Despite a slow revenue growth and slipping into losses, PayU is eyeing profitability and has laid off around 100 employees from its credit team.

Source: Entrackr