India: For IPO success, Paytm needs more than a rub-off from Zomato’s exuberance

Photo: Bloomberg

How many e-commerce firms does it take to fit a light bulb? None, because the bulb is redundant and so are the traditional metrics on which companies are valued in the equity market when it comes to these companies.

Fintech firm One97 Communications Pvt. Ltd, which owns Paytm, will soon find out if it can replicate Zomato’s dream run with its initial public offering (IPO). The food delivery firm not only got a lip-smacking valuation, but also got bids worth over 40 times the amount for the book-built part of its IPO.

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