"Casino-Like Frenzy May Be A Metaphor": Paytm CEO On Anand Mahindra's Tweet
NDTV
Paytm's shares plunged as much as 26 per cent in a weak stock market debut on Thursday, a week after the country's biggest-ever initial public offering.
"Casino-like IPO frenzy may be a metaphor, I don't want to comment,'' said Paytm MD and CEO Vijay Shekhar Sharma on Anand Mahindra, Chairman, Mahindra Group shared on Twitter that Paytm's weak debut market could moderate 'the casino-like feeding frenzy for IPO listings and help restore the hunt for true value.' Mr Mahindra's tweet came after Paytm's shares plunged as much as 28 per cent in a weak stock market debut today, a week after the digital payment company concluded the country's biggest-ever initial public offering (IPO). My heart goes out to individual IPO investors who must be rattled but I'm sure Paytm will find its right level. There is, however, a silver lining to this sobering debut: it could moderate the casino-like feeding frenzy for IPO listings & help restore the hunt for true value. https://t.co/TDDF4t2TCI
In his tweet, Mr Mahindra added, ''my heart goes out to individual IPO investors who must be rattled but I'm sure Paytm will find its right level.''
