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Paytm listing debacle sparks concern from investors for other IPOs
TIWN
Paytm listing debacle sparks concern from investors for other IPOs
PHOTO : TIWN

New Delhi, Nov 29 (TIWN) The Paytm listing debacle has sparked concern from investors and entrepreneurs, fearful that it could derail a string of expected Indian flotations that were supposed to cement the country's status as a leading destination for tech start-ups after the US and China, Financial Times reported.

The debacle has put the spotlight on Paytm, its shareholders SoftBank and Alibaba, and bookrunners on the IPO including Goldman Sachs, Morgan Stanley and Citigroup.  "The worry for all of us is does this impact the broader India tech sentiment? One bad deal and one instance of bad judgment can upset the apple cart," said the head of equity capital markets for India at one western bank.  "Valuation is going to be very difficult."

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