PAYTM FLOP LISTING

Under this model, companies sell products at much lower prices to customers, provided they place orders as a group. Chinese internet firms such as Pinduoduo elevated group buying to a fine art, racking up hundreds of millions of users.

The winemaker is looking to go public at a time when IPOs have dried up in India, as in much of the world, amid concerns of a recession. Young retail traders who helped drive the local stock market over the past couple years have been burned in rece...

India's push comes after the flop listing of SoftBank-backed payments firm Paytm's $2.5 billion IPO in November which sparked criticism of lax oversight of how loss-making companies price issues at what some say are lofty valuations.

Vijay Shekhar Sharma blamed bad timing for a tepid response to Paytm’s initial public offering and lacklustre listing last year, amid cascading share prices of a company he co-founded over two decades ago. “This quarter we are talking about $100 mil...

The capital commitment comes at a time when ultra-fast grocery delivery has become highly competitive with a slug of investor capital coming into the buzzy segment.

Paytm’s “super app” has emerged from a pure “want” category to reach to the “need” status, Dolat analysts, led by Rahul Jain, said.

Dolat Capital has set for Paytm a target price of Rs 2,500, which is 16% higher than the issue price of Rs 2,150. The brokerage expects the company to turn profitable by March 2026.

Retail investors, who bought an unprecedented amount of shares in Paytm’s parent One 97 Communications Ltd., have seen more than 35% of their value wiped out in just two trading sessions. Further losses may be in store if the stock slumps from its M...

Paytm’s share price fell as much as 18.72% intraday to Rs 1,271.25 on the BSE before paring some of the losses to end the day 13.03% lower at Rs 1,360.30. The market cap stood at Rs 88,184.67 crore.

Paytm’s disastrous stock market debut—where its share price tanked 27.4% from its issue price—shares similarities with listing day performance of Deliveroo, Robinhood Markets, Uber and Lyft.

"It will take three to four months for people to forget Paytm and that it destroyed wealth," said Jimeet Modi, founder of Mumbai-based brokerage Samco Securities.

Shares of Paytm parent One97 Communications listed at a steep discount to its IPO price and then hit a lower circuit of 20% half an hour before closing bell. Macquarie has rated the Paytm stock at 'underperform' with a price target of Rs 1,200.

Paytm's business model isn't as simple as selling a phone or delivering food, its founder Vijay Shekhar Sharma told us after the company made a disappointing debut on India's stock exchanges on Thursday.

Paytm’s nightmare debut eclipsed by some margin the worst US listing flops by companies that raised a similar amount in their IPOs.

Whether Paytm’s IPO will become a harbinger of bad times like RPower remains to be seen, but it sure should deflate the bubble in India’s IPO market till LIC comes knocking next March.

Its day-one nightmare even eclipsed the worst trading debuts ever by US firms that raised at least $2 billion in their IPOs.

On Wednesday, a day ahead of its listing, shares of Paytm parent firm One97 Communications exchanged hands at a premium of just Rs 20-25 over the final issue price of Rs 2,150 on the gry market.

Zomato, which has twice tested—and aborted—its own grocery delivery service since the start of the pandemic, is now in talks to invest up to half-a-billion dollars in Grofers.

One97 Communications, Paytm’s parent company, is likely to have a muted debut on India’s stock exchanges, bucking the trend set by startups like Zomato, Nykaa and Policybazaar, which had stellar listings.