India's biggest-ever IPO Paytm slumps on market debut - NewsBreak

Indian mobile payments giant Paytm lost a quarter of its value on its market debut Thursday, after raising $2.5 billion in the country's biggest ever IPO, as traders questioned whether the loss-making firm would ever turn a profit. But while Paytm has established a leading position in the fast-growing marketplace for mobile payments it has lost money in each of the past three years and its market debut showed the limits of investor appetite.