Friday, February 23, 2024

Paytm CEO’s ambition to deliver India’s largest-ever IPO backfires

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Retail investors who piled into the offering are now sitting on heavy losses, along with global giants like BlackRock Inc. and the Canada Pension Plan Investment Board. (REUTERS)

Paytm founder Vijay Shekhar Sharma had made no secret of the fact that he wanted his company’s debut to surpass the long-standing IPO record set by Coal India Ltd. in 2010

Paytm share listing: Vijay Shekhar Sharma wiped away tears of joy as he recounted his rise from a “commoner” to the leader of a digital payments giant that just completed India’s biggest-ever initial public offering.

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