We exited Paytm, not India's internet space. We like Nykaa, PolicyBazaar: Adrian Lim of Aberdeen Asset

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26 Aug, 2025 12:21

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Renowned emerging market asset manager Adrian Lim of Aberdeen Asset Management told CNBC-TV18 on April 19 that they continue to like companies such as Nykaa, Info Edge and PolicyBazaar from India’s internet space but have exited Paytm.

Aberdeen had bought 1.5 percent stake in Paytm in the anchor issue before its initial public offering in November 2021. However, Lim confirmed that Aberdeen Asset Management had exited the stock following its listing.

Paytm’s listing was one of the most disastrous on the Street in recent years as the stock tanked more than 25 percent from its issue price of Rs 2,150. Currently, the stock is trading nearly 70 percent lower from its issue price.

“We still continue to look at this space, these are exciting ideas that go against the incumbent companies that need to be disrupted,” Lim told CNBC-TV18. The veteran asset manager said that pre-profit internet companies are a volatile investment but this does not suggest such bets won’t make money in the long term.

Lim also expressed his satisfaction at the announcement of the merger between Housing Development Finance Corporation and its arm HDFC Bank.

“We are positive and bullish on both these names coming together. There are synergies and advantages from the merger of these two companies,” he said.

On April 4, HDFC announced that the company will merge itself with HDFC Bank in a “marriage of equals”. Shares of both the entities soared over 10 percent on the day but have since given up those gains to trade below the pre-merger announcement price.

“In this current climate of volatility, it's difficult to read too much into short term gyrations in these two stocks,” Lim said, who reiterated that he remained positive on both the companies from a medium-term perspective.

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