According to persons familiar with the situation, several of the biggest investors in Paytm's record-breaking initial public offering increased their positions in the Indian fintech powerhouse after shares dropped by as much as 41%. According to the people, who asked not to be identified, because they were disclosing private information, BlackRock Inc. and Canada Pension Plan Investment Board were among the so-called anchor investors in the IPO that bought additional Paytm shares on Tuesday and Wednesday.
A stunning two-day plunge by India’s Paytm after its initial public offering casts a shadow over the prospects for technology firms preparing to go public in what was supposed to be the country’s breakout year.
A stunning two-day plunge by Indias Paytm after its initial public offering casts a shadow over the prospects for technology firms preparing to go public in what was supposed to be the countrys breakout year.
Shares of India's pioneering digital payments startup Paytm plummeted for a second day after its $2.5 billion initial public offering, marking one of the worst debuts ever by a major technology company.
Macquarie Capital Securities, which was vindicated on its initial downbeat call on Paytm, maintained its bleak view on profitability Monday after the digital payments startup released financial details for the critical period ahead of the Diwali holiday