“Casino-like IPO frenzy may be a metaphor, I don’t want to comment,” said Paytm MD and CEO Vijay Shekhar Sharma on Anand Mahindra, Chairman, Mahindra Group shared on Twitter that Paytm’s weak debut market could moderate ‘the casino-like feeding frenzy for IPO listings and help restore the hunt for true value.’ Mr Mahindra’s tweet came after Paytm’s shares plunged as much as 28 per cent in a weak stock market debut today, a week after the digital payment company concluded the country’s biggest-ever initial public offering (IPO).

In his tweet, Mr Mahindra added, ”my heart goes out to individual IPO investors who must be rattled but I’m sure Paytm will find its right level.”

My heart goes out to individual IPO investors who must be rattled but I’m sure Paytm will find its right level. There is, however, a silver lining to this sobering debut: it could moderate the casino-like feeding frenzy for IPO listings & help restore the hunt for true value. https://t.co/TDDF4t2TCI

— anand mahindra (@anandmahindra) November 18, 2021