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In a recently floated consultation paper, SEBI proposed to put a cap on IPO funds that startups can use for mergers and acquisitions (M&As) unless they explicitly identify takeover targets when filing the offer document.ģ. The development comes at a time when a string of high-profile startups are opting to go public in India and receiving attention from the global investor community. Indian market regulator SEBI proposes new rules to avoid misuse of IPO funds. However, given the massive issue size, Paytm’s market capitalization still crossed INR 1.01 trillion (USD 13.6 billion).Ģ. By the end of the day, Paytm’s shares were down to an intraday low of INR 1,564 and INR 1,560 on BSE and NSE, respectively. The Noida-headquartered company listed its shares on stock exchanges on November 18 at a discount of over 9% against the issue price of INR 2,150. Indian fintech giant Paytm made a weak debut, with share price crash ing 27% on listing day. KrASIA looked at regulatory filings to chart out how Paytm has diversified its business in a bid to milk its 337 million registered users and 21.8 million merchant partners. Twelve years down the line, the company has grown into a sprawling empire comprising payment services for consumers and merchants, ticket and event bookings, games, insurance, financial and wealth management products, stock trading, and commerce.Įven as profitability remains a few years away for the company, Paytm has been tapping different revenue channels since 2015, the year when it forayed into the online commerce segment.Īs per its prospectus, Paytm derives revenues primarily from fees earned from merchants for payments, commerce and cloud, and financial services. Paytm founder and CEO Vijay Shekhar Sharma incorporated Paytm in 2009 as a digital payments platform offering bill payments and mobile top-ups. The Big ReadĪ closer look at Paytm’s (formerly) USD 20 billion empire More importantly, Paytm debuted with a market cap of USD 13.6 billion (INR 1.01 trillion), almost a USD 6 billion drop from the USD 20 billion valuation that the company reached after the IPO.įor this week’s big read, we looked at different verticals that Paytm ventured into over the years to create a massive business enterprise. But when it listed on November 18, shares of SoftBank- and Ant Financial-backed fintech giant opened up at a discount of 9% over the issue price on Indian bourses. Sharma concluded Paytm’s USD 2.47 billion IPO-the country’s largest-ever-last week with an oversubscription of 1.89 times. Before Paytm founder and CEO Vijay Shekhar Sharma rang the bell at the 146-year-old BSE, Asia’s oldest stock exchange, he became emotional, and while wiping his tears he said he didn’t believe he could reach here.
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This week was all about Paytm’s public market debut, which was expected to be sensational but turned out…blah. This is the preview of what you will receive in your inbox. Subscribe to our newsletter to read this first thing on Friday morning.