HaHa! Let’s talk about Paytm today, “The Biggest IPO of India”, this was the biggest joke of 2022. Retail users are still in pain, It was 2,100 per share. I think they just wanted cash flows to come their way, and major investors just wanted to exit the game.
Pockets of investors and their bank accounts might have been very happy with such a big entry, I still wonder why NSE & BSE is still allowing such players to launch their IPO.
The company reported – Rs 571.5 crore of loss in their Q2 results, this is huge guys. Big Investors (Of the stock market) already knew that this will be a flop show, but retail investors were caught here.
Now, News is getting viral that they are thinking to buy back at approx. cost of Rs.831. Paytm philosophy is taking advice from today’s financial influencers, Buy Low, Sell High 😁.
It is just great to not buy such stocks until the company has a good balance sheet to show on the table. Many loss-making startups are taking out their IPO’s like-Zomato, Delhivery, Droom and many more.