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.
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