In November 2021, *Paytm’s parent company One97 Communications went public with a $2.4 billion IPO. What followed was a bloodbath for the fintech giant. In a span of a year after the IPO, Paytm’s stock lost 75% of its market value. No other large IPO in the last decade had seen such a bad fall in stock value within the first year of listing.
But last year, in a dramatic turnaround, Paytm saw its stock value go up by 90%. What could've Paytm possibly done to bring about this crazy turnaround?
It was personal loans. They’re the reason Paytm saw a more than 60% jump in revenue in the year ended March 2023. But now, Paytm can't rely on it anymore.
Tune in to find out why.
*Paytm’s founder Vijay Shekhar Sharma is an investor in The Ken
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