Paytm Flop Will Skim Froth Off India’s IPO Market

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Paytm Flop Will Skim Froth Off India’s IPO Market

India’s biggest ever initial public offering was a flop. That may give sentiment in the red-hot market a needed reality check—but it is unlikely to derail the IPOs of the many other Indian unicorns champing at the bit.

Shares of SoftBank Group and Berkshire Hathaway -backed One 97 Communications, the parent of Indian digital payments giant Paytm, fell 37% in the first two trading days after Paytm went public. The stock has since rebounded but is still 17% below its IPO price.

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Hi, my name is Ankita Dixit. I started writing from young age and most of my writing skills and knowledge are self taught. Currently, I am working as a professional writer at Paisa.co. I have write on various topics including travel, motivation, finance, technology, credit cards, insurance and entrepreneurship etc.