An advertising balloon for Paytm’s online payment services in Ooty, Tamil Nadu, India. Photo: Bloomberg
An advertising balloon for Paytm’s online payment services in Ooty, Tamil Nadu, India. Photo: Bloomberg
India

Paytm shares rout deals painful reality check for India’s ‘casino’ IPO markets

  • One of the worst-ever market debuts by a big tech company saw local investors steer clear of India’s largest-ever public offering, amid doubts over the firm’s road to profitability
  • Even so, some see a silver lining in that it may moderate the frenzy for IPOs and restore the hunt for value. Paytm founder Vijay Sharma, meanwhile, is unbowed, likening the company’s position to Tesla’s early years

An advertising balloon for Paytm’s online payment services in Ooty, Tamil Nadu, India. Photo: Bloomberg
An advertising balloon for Paytm’s online payment services in Ooty, Tamil Nadu, India. Photo: Bloomberg
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