Paytm's IPO ends oversubscribed 1.89 times after a bumpy start

BENGALURU -- Paytm's initial public offering, India's largest ever, received a relatively tepid response, at least compared with a recent run of massively oversubscribed offerings by Indian startups Zomato, Nykaa and PolicyBazaar, reflecting apprehensions over a lofty valuation despite a potentially long road to profitability.