IPO

Country’s biggest tech company GoTo had been waiting for the regulatory change.

Stricter rules for tech firms listed outside mainland China are on the way.

Paytm’s weak market listing is expected to bring down the sky-high valuations of tech companies that are eyeing public markets.

In this round of India Digest from November 12 to November 18, 2021, read our big story of the week, the weekly buzz, and more.

Paytm’s expensive valuation, lack of clarity on the path to profitability, and cutthroat competition are believed to be the key reasons behind its weak market debut.

SEBI wants a cap on IPO funds that startups can deploy for M&As unless they specifically disclose takeover targets beforehand.

Paytm plans to use the money raised from the IPO to onboard new consumers and merchants as well as for acquisitions and strategic partnerships.

Paytm has raised almost half of the USD 2.4 billion it is looking to raise in next week’s IPO.