Billed as the biggest in India’s corporate historyA fund manager on Tuesday said it could prove to be a “very high risk bet” and may not see any major upside when listed on stock exchanges.
“In the case of Paytm, where the strength of the network impact is there – it is the largest digital payments platform from a merchant point of view – it has a long runway to capitalize on it and hopefully generate some profit along the way,” said Rakhi Prasad. , an investment manager at Elder Capital told Bloomberg TV’s Hasalinda Amin and Rishad Salamat.
“These are very high-risk bets”, she said, on the medium to long term horizon. “Nothing is really going to happen in the short term. I would say demand will be met, but probably not a huge listing pop that we are seeing in some other companies.”
November 8-10 Paytm IPO, Who
tries to raise at least $2.5 billion By offering shares in the Rs 2,080-2150 price band at a valuation of $19.5-20 billion, a muted response has been seen so far – 18% subscription on the first day and 36% as of 1:30 pm on the second day. but
It has received strong response from anchor investors Like BlackRock Inc. and Masayoshi Son, CEO of the Abu Dhabi Investment Authority (ADIA), and investor SoftBank Group Corp.
is bullish on your prospects.
While the fintech company, whose name rhymes with ATM, faces stiff competition from Alphabet Inc’s Google Pay and Walmart Inc-backed PhonePe.
in India’s digital payments sectorIt has the largest share in the merchant payments market in India. According to global data, the Indian mobile payments market will be worth over $2 trillion by 2024.
Paytm’s IPO comes at a time when the world’s second most populous country recently witnessed a boom in unicorn listing technology, with the stock market hitting record highs. Foodtech firm’s initial share sale
zomato and cosmetics seller
hero Fully subscribed on the first day, which indicates that there is a lot of interest from retail investors in the sector.