Paytm shares have fallen about 30% since it started trading, with a slight rebound Tuesday. Planned smaller IPOs could have a harder time pricing shares now.
At least some of the IPO prospects that have been looking to benefit from the flood of transactions may now rethink the timing and pricing of their issues.
The drop has hit individual investors and global institutions such as BlackRock and the Canada Pension Plan Investment Board that had scooped up shares.
Sharma encouraged employees to look past the initial stumble and to focus on the long-term opportunities for bringing digital payments to India's fast-growing internet population.
The next step for Paytm and its payments bank is to amalgamate into a full-fledged, unrestricted lender, credit-card issuer and deposit taker. That’s where the pot of gold lies.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
COMMENTS