India’s largest ever preliminary public providing was a flop. That will give sentiment within the red-hot market a wanted actuality verify—however it’s unlikely to derail the IPOs of the numerous different Indian unicorns champing on the bit.
Shares of SoftBank Group and Berkshire Hathaway -backed One 97 Communications, the father or mother of Indian digital funds big Paytm, fell 37% within the first two buying and selling days after Paytm went public. The inventory has since rebounded however continues to be 17% beneath its IPO value.