India’s IPO market has crashed back to earth this year after a record 2021. Surging inflation, looming higher interest rates,...
Tech companies like Paytm, food delivery outfit Zomato, online insurance broker PolicyBazaar, and online fashion seller Nykaa were amongst the biggest losers.
Paytm raised $2.5bn in India's biggest IPO last November but made a dismal debut on widespread concerns over its high valuation
Paytm’s chief Vijay Shekhar Sharma moved to reassure the markets as the Indian giant’s share price tumbled another 12% after reports of data leaks to Chinese firms
The pressure keeps piling on Warren Buffett-backed Indian payments merchant Paytm. Shares of its owner One97 Communications are in freefall and now it must deal with gloomy predictions about its future revenues.