Paytm's listing flop likely to hit other IPOs: BharatPe's Ashneer Grover

Paytm’s catastrophic stock market debut could impact other initial public offerings (IPOs) including that of state-owned Life Insurance Corporation of India (LIC), Ashneer Grover, founder and chief executive officer of BharatPe, said on Monday. 

He said the debacle was a collective failure of the management and investment bankers. 

“There is a company which for the last three years has stagnated in terms of growth and then it comes to the market saying it wants to do a $20-billion IPO, positioning itself as the largest start-up out of India and positioning it as the biggest IPO. When you are doing that, the basic