PayU Delays 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