Paytm’s IPO has raised many eyebrows. Then, what makes it 2021’s most-awaited public issue?
Synopsis
The grey-market premium for the upcoming public offer rose 2.5x in just two months. Touted as the country’s largest-ever IPO, Paytm brings hope to investors despite the criticism around its potential revenue and profitability. But the Street isn’t known to be kind to cash guzzlers and loss-making companies. Should investors take the plunge?
This week will be busy for senior executives of Paytm, India’s first and largest payments bank by market share. The company has called for an extraordinary general meeting (EGM) of shareholders today (July 12) and if things go as planned, Paytm’s holding company — One97 Communications Limited — is likely to file its draft red herring prospectus with market regulator Sebi in some days.In simple words, the EGM will set the ball rolling for the
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