![]() Revenue dipped nearly 15% to 28.02 billion rupees, according to the prospectus. Paytm said it had around 333 million users as of March 31.įor the year that ended on March 31, One97 Communications, which owns Paytm, posted a loss of 16.96 billion rupees - a slight improvement from the 28.42 billion rupees loss in the previous year. Paytm is also a fully licensed digital bank and has launched insurance, wealth management as well as cloud and commercial services.īut, it faces stiff competition for market share from deep-pocketed rivals such as Google Pay, Walmart's PhonePe and Facebook's WhatsApp messaging service, which allows users to send money through the app. More than a decade later, the start-up has become a ubiquitous name in India's digital payments space as millions use the service to pay for things including utility bills, groceries, recharging mobile connections and buying movie tickets. Paytm started in 2009 as a platform that allowed Indians to pay their bills and top-up their mobile plans. The Noida-headquartered company said it would use proceeds from the IPO to grow and strengthen its payments ecosystem, as well as invest in new business initiatives, acquisitions and partnerships. It is also in talks to potentially undertake a pre-IPO placement of 20 billion rupees, which would reduce the size of new shares issued. Founders, entrepreneurs, and businessmen are showing an immense zeal in getting their companies listed. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Morgan Stanley, Goldman Sachs, Axis Capital, ICICI Securities, JPMorgan, Citi and HDFC Bank were bookrunnners on Paytm's IPO.Best Debt Consolidation Loans for Bad Credit ![]() But Paytm, which started trading in Mumbai on Thursday, spoiled the party: Its. Indian payments platform Paytm is planning an initial public offering (IPO) with plans to raise 3 billion at an estimated 29 billion, a listing that is expected to be the biggest in the country. More recently, shares in FSN E-Commerce Ventures (FSNE.NS), which owns cosmetics-to-fashion platform Nykaa, jumped 80% after its Nov. It’s turning into a monumental year for India’s stock market, as yet another big startup makes its public debut. The listing could bring "an end to obnoxious pricing in IPO markets", Mumbai-based investment adviser Sandip Sabharwal said.įood delivery firm Zomato surged 66% at its July debut after raising $1.2 billion. Ant reduced its to 23% from 28% and SoftBank's Vision Fund pared its holding by 2.5 percentage points to 16%. Singh also noted both Ant and SoftBank had cut their stakes in the IPO. Paytm’s shares were trading at a discount of 27.3 or INR 1564 (21.15) per share at 1514 Indian Standard Time after opening at INR 1955 (26.4), down from the issue price of INR2150 (29). He said that the stock was offered at 27 times enterprise value/gross profit for fiscal 2024, more than the 21.3 times for Zomato Ltd (ZOMT.NS). "Most of the domestic institutional investors appear to have skipped the IPO," added Aequitas Research director Sumeet Singh, who publishes on Smartkarma. Many market participants saw Paytm's slide as a sign that local investors had become disillusioned with heady valuations. ![]() Sharma said Paytm could turn profitable when it did not need to invest "so much more" to fuel growth opportunities.Īlthough Paytm's $2.5 billion IPO was priced at the top of the indicative range, demand was weaker than other recent start-up IPOs like Nykaa and Zomato, which were oversubscribed several times over. The company reported a loss of 3.82 billion rupees ($51.5 million) in the quarter ended in June, wider than a loss of 2.84 billion rupees for the same period last year. obviously the company lacks a clear path to profits," Shifara Samsudeen, a LightStream Research analyst who publishes on SmartKarma, said. "Paytm's financials are not very impressive and the growth prospects seem limited. Check - Paytm IPO - Listing Day 1 Performance Firstly, the revenue model of. ![]() 07, 2021 12:25 PM ET Alibaba Group Holding Limited (BABA), SFTBY. Indias leading agri commodity exchange, NCDEX has barred fresh positions in. Retail investors, who bought an unprecedented amount of shares in Paytm’s. ![]() Investors and analysts on Thursday expressed concerns over valuing the loss-making firm at some $18.7 billion in the IPO. Financials Tech IPO News India’s Paytm takes steps towards planned 3B IPO with preliminary registration in July Jun. While Paytm’s shares rebounded by as much as 6.5 in early Tuesday trading, the broader gauge continued to fall. ![]()
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