Serious Best Buy Low Price! Ceca Fintech Collapse on IPO and 1st Trading!

[Pinkieslut]

India's Paytm falls for second day after debut debacle​

Mon, 22 November 2021, 12:58 PM

By Chandini Monnappa

BENGALURU (Reuters) - Digital payments firm Paytm fell for a second session on Monday, shaving off $7.75 billion from its market value since its dismal debut in India's biggest initial public offering last week.

Shares fell 17.78% as of 0733 GMT to 1,271 rupees compared with the offer price of 2,150 rupees. On the listing day on Nov. 18, they crashed more than 27%.

Paytm's market rout has raised doubts around impending IPOs on the Indian market, including those of its smaller rival MobiKwik and hotel aggregator OYO as valuations come under investor scrutiny.

"IPOs have been running hot in India, so a correction in broader markets will hurt these stocks the most," said Deepak Shenoy, founder and chief executive of Capitalmind in Bengaluru.

He said people will be reluctant to come in when conditions are not favourable, raising doubts whether the rush for new listings was slowly fading.

Meanwhile, Paytm said on Sunday its gross merchandise value, a measure of overall sales, processed via its platform in October was up 131% from a year earlier.

"Paytm stock is taking a beating at present, but their business update looks fine and their fundamentals have not changed," Shenoy said.

Founded by Vijay Shekhar Sharma in 2010 as a platform for mobile recharges, Paytm counts SoftBank and Ant Group among its backers and had raised $2.5 billion in its IPO.

It grew quickly after ride-hailing firm Uber made Paytm a quick payment option in India and its use swelled in late 2016 after India's shock ban on high-value currency notes boosted digital payments.

Sharma, who cried with joy at the opening ceremony on Thursday, later told Reuters he was unperturbed by the slide and did not regret listing in India.

Separately, on the day when Paytm debuted, a working group of the Indian central bank suggested setting up a self-regulatory body covering participants in digital lending.

The move could lead to higher compliance-related costs for all fintech companies including Paytm, brokerage Macquarie Research had said in a client note on Nov. 18.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Uttaresh.V and Arun Koyyur)

 

[Loofydralb]

Quintessentially Ho Jinx

 

[Rogue Trader]

The relationship between Ah neh and technology is very paradoxical. Despite boasting so many "IT experts" the country's tech adoption rate is pathetic as fuck. Maybe as bad as Africa.

From experience, they will revert to the old way of doing things after some time. Implementing tech is a waste of time and money on these monkeys

 

[millim6868]

Temasick sure hv one hand in it, sure bite the dust,kumlan,really buy high sell low,but 61% song with it, no wonder CCS say sinkies are idiot, think they know 61% weakness

 

[searcher1]

What have Temasek got to do with Paytm ?

 

[laksaboy]

IPO, take the money of gongkia investors and run. Sure huat.

 

[Pinkieslut]

What have Temasek got to do with Paytm ?

CPPIB, ADIA, GIC, Temasek pitch in as anchors for Paytm IPO​

November 9, 2021

A bunch of institutional investors including pension funds and sovereign funds have taken part in the anchor book allotment for the initial public offering (IPO) of One97 Communications Ltd, the parent of digital wallet and e-payment services firm Paytm.

Global public market investment goliath BlackRock led a commitment of nearly $200 million as part of the $1.1-billion (Rs 8,235 crore) anchor allotment. This makes it one of the largest anchor books for an IPO in India.

Among other prominent investors, Canadian pension fund CPPIB put in Rs 938 crore ($112 million), Singapore and Abu Dhabi wealth funds GIC and ADIA put in Rs 533 crore and Rs 56 crore and an investment firm associated with Temasek bought shares worth Rs 56 crore.

Several mutual funds and foreign portfolio investors also participated in the anchor allotment that closed ahead of Diwali due to the closure of trading sessions in the latter half of the week.

The overall issue, including the anchor book, is worth Rs 18,300 crore comprising a fresh issue of shares to garner Rs 8,300 crore and an offer for sale of Rs 10,000 crore. The IPO opens next week.

At the upper end of the price band Paytm would be valued at Rs 1.4 trillion ($18.8 billion). This would make it the 37th most valued company in the country. Previous media reports had suggested the firm was eyeing a valuation of $25-30 billion.

One97 Communications had initially filed for a Rs 16,600 crore ($2.2 billion) initial public offering, nearly a decade after scrapping a proposed IPO in a different avatar when it was a mobile value-added services provider.

It increased the issue size as the offer for sale portion expanded. Elevation Capital (formerly SAIF Partners) an early backer of the firm, SoftBank, Antfin and Alibaba among others are selling shares in the IPO.

 

[laksaboy]

What have Temasek got to do with Paytm ?

This article was from 2015.

Alibaba, Temasek Holdings in talks to scoop up 30% in Paytm for Rs 3000 crore
https://economictimes.indiatimes.co...tm-for-rs-3000-crore/articleshow/45828762.cms

 

[laksaboy]

The relationship between Ah neh and technology is very paradoxical. Despite boasting so many "IT experts" the country's tech adoption rate is pathetic as fuck. Maybe as bad as Africa.

From experience, they will revert to the old way of doing things after some time. Implementing tech is a waste of time and money on these monkeys

Ah nehs typically do not like to do strenuous physical work, therefore by the process of elimination, service jobs such as IT are what they're into.

They are also very tech savvy.

 

[searcher1]

OIC
But for Temasek standard ..... $500 million is really peanut, just double-up bet on the next project.

 

[laksaboy]

OIC
But for Temasek standard ..... $500 million is really peanut, just double-up bet on the next project.

Peanuts because there's an island full of sheeple ready for fleecing. Can recoup the money in no time. Kleptocracy 101.

 

[syed putra]

Cash is king in india. Only workable IT in the country is their electronic voting system which spews in the results before end of the day,