Paytm, a digital payments startup, recently made one of the worst debuts in history in India’s stock market, falling 27% on its first day of trading. The company’s IPO was the largest ever in India. The lofty valuation expectations were called into question by many investors; the company was valued at 27X gross profit, aiming for a $20B valuation.
Paytm falls 27% on first trading day after India’s largest IPO
