IPO bound unicorn Paytm is aggressively eyeing merger and acquisition ahead of filing its papers with market watchdog Sebi. The fintech firm is in  exploratory talks with three payment gateway firms namely, BillDesk, PayU and BSE-listed Infibeam Avenues, to buy a substantial stake in them, suggested a report. Paytm is looking to mop-up about $3 billion via its primary float. The Vijay Shekhar Sharma-led digital payment service provider is looking to strike just prior to its IPO plans. Paytm is targeting to fetch an astronomical valuation of between $25-$30 billion, which is almost double its previous fund raising at valuation of $16 billion. Paytm's IPO could be India's largest ever public offering so far. Not only Paytm, food aggregator Zomato, pre-owned car start ups CarTrade, e-pharmacy PharmEasy, beauty e-commerce omnichannel Nykaa and online insurance aggregator PolicyBazaar are likely to make a Dalal Street debut. According to sources, the talks are in the early stages and it is not sure which of these entities will be keen to join forces with Paytm. The company is looking to seal the deal before its IPO to enhance its profitability. Paytm too has its own payment gateway, but BillDesk, Infibeam Avenues, PayU and Razorpay are well entrenched in the ecosystem and have specialised businesses. According to the industry trackers, the domestic payment gateway market can grow 15% annually to $100 billion by 2025. According to market sources, Paytm is hunting for a couple of acquisitions before hitting the capital markets to raise funds. The company is trying to showcase some aggression and action to ensure its dominant position in the market. Acquisitions by Paytm Founded in 2000, paytm was launched as a mobile recharge and bill payment platform in 2010. Paytm has grown as one of the largest fintech startups offering services like UPI, credit and debit cards, stock broking, insurance, ticket booking, bill payments, payment bank, gold etc. In 2018, Paytm acquired Cube26, a tech startup which developed various social engagement applications. In December 2017, Paytm also acquired O2O deals platforms Little and Nearbuy, wherein it arranged a merger of the two startups and made a strategic investment in the resultant entity for a majority stake. Prior to that, Paytm acquired a majority stake in ticketing platform Insider.in. The acquisitions are in line with Paytm’s strategy of becoming more than a digital wallet and expanding the categories in which its digital payments services are being used. Paytm has been trying to position itself into the biggest digital conglomerate operating in India. However, the dream is still far-fetched.