After crackdown, school operators venture into clothing and farm equipment.
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Paytm’s expensive valuation, lack of clarity on the path to profitability, and cutthroat competition are believed to be the key reasons behind its weak market debut.
In the three-day IPO that concluded on November 10, Paytm was oversubscribed 1.89 times, receiving bids for a total of 91.4 million shares against the 48.3 million shares available.