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Paytm IPO: Priced at sky-high valuation, should investors subscribe?

In its aim to be India's super-app, Paytm has added many business lines that may augment revenues in the future, but each one comes with a lot of uncertainty.

November 08, 2021 / 10:37 AM IST
Paytm IPO: Priced at sky-high valuation, should investors subscribe?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

India’s biggest-ever initial public offering (IPO) so far is opening for subscription today (November 8). Paytm, the payment platform, is launching its Rs 18,300-crore IPO — consisting of Rs 8,300 crore of fresh capital mop-up and an offer-for-sale from some of the existing shareholders, amounting to Rs 10,000 crore. Till date, the Rs 15,200-crore IPO of Coal India had held the distinction of being the country’s largest IPO. The Paytm IPO is coming at a time when digital payments and...

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