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Paytm IPO: FOMO > fundamentals

Payments is just a way to funnel users into other paying products and services from bill payments to credit to cross selling. But it won’t be an easy gig.

November 08, 2021 / 10:00 AM IST
Paytm IPO: FOMO > fundamentals

Paytm IPO: Too much froth?

Paytm’s initial public offer (IPO) launches today (8 November 2021) on the fifth anniversary of the note ban, the event which arguably made its brand popular. At Rs 18,300 crore, it is slated to be India’s largest new share sale. At the upper end of the price band, Paytm (more formally, One97 Communications Ltd) is valued at 56.6 times the revenues for 12 months ending June 2021. That’s eye-popping, considering that globally payment companies trade at a median 9 times...

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