India’s Paytm IPO crashes on debut, shedding $5bn from valuation

India’s largest initial public offering (IPO), Paytm, has crashed on its market debut – evaporating around $5bn from its valuation. The debut was one of India’s worst, falling as much as 27 per cent, as doubts were raised around Paytm’s business model. “One day does not decide what our future is,” CEO Vijay Shekhar Sharma [...]