New-age technology brands like Paytm, Zomato, Nykaa and Policybazaar, led a record Rs 1.2 lakh crore mop-up through initial public offerings (IPOs) in India during 2021
The US bank’s view is in contrast with its peers such as Macquarie Group Ltd. and Goldman Sachs, which have underperform and neutral ratings, respectively, on the stock
At a price of Rs 2,150 per share the company’s IPO size was valued at Rs 10,403 crore. However, the stock took a beating on the listing day and the total value of these shares fell to Rs 7,569 crore causing a cumulative loss of Rs 2,835 crore.
Shares of Paytm (listed as One 97 Communications) tanked 13 per cent to hit an intraday low of Rs 1,297.7 on the Bombay Stock Exchange (BSE) as the lock-in period for anchor investors ended on Wednesday.
If I were the top management of the firm, I would talk less about users and gross merchandise value, and focus more on improving the abysmally low take rate at the firm, wrote NYU professor Aswath Damodaran