Digital payments network Visa may invest over $250 million in Mumbai-based payments gateway BillDesk, reported The Times of India.
The move could raise the value of BillDesk to around $ 2 billion, said the report quoting sources.
The development came after BillDesk decided to opt for a financing round instead of strategic sale, added the daily.
“The deal is in the final stages of completion, it’s the valuation which is being negotiated,” a person familiar with the matter was quoted as saying in the report.
BillDesk is the largest online payments processing company in the country and also one among the rare profitable internet companies in India.
The company was founded back in 2000 by three former Arthur Andersen executives — M N Srinivasu, Ajay Kaushal and Karthik Ganapathy.
Any investment in the firm will aid Visa in further strengthening its own position in the Indian market, said the report.
First Published: Jun 25, 2018 11:23 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM