Paytm investors’ Babu Rao moment and Akasa takes a lead over Jet
Paytm’s investors are in for a long ride and Jet Airways’s flight seems to be taking forever as Akasa Air clears some important milestones.
Why read this story?
Editor's note: This is Street Smart, The Morning Context’s weekly newsletter on everything that impacts corporate India. Every Thursday, Street Smart will bring you an original, reported or analytical take on issues that have the potential to shake up the business ecosystem. Advait here. As Paytm’s stock fell by a quarter on its debut on the exchanges earlier today, I couldn't help but think of Babu Rao, the hapless landlord played by Paresh Rawal in Hera Pheri. He got zero rent from his tenants, who nearly always took him for a ride. The Paytm investor, it looks like, is in for a similar ride. Elsewhere, Jet Airways’s flight seems to be taking forever even as Akasa Air has cleared some important milestones this week. Put on your seat belts and read on. Who is betting on Paytm for the long haul? There were tears of joy on Vijay Shekhar Sharma’s face as he reflected on the 11-year journey it took to build Paytm, just before its public debut on the stock exchanges on Thursday. At a Rs 1.5 lakh crore, or $20 …
More in Business
You may also like
How India’s retail shareholders are being left holding the can
Swiggy and Ola Electric’s plans to return to the public markets soon after big-bang IPOs leave investors with dilution, little prospect of returns and plenty of questions.
How the IndiGo crisis went unnoticed in November
Despite enough warnings, no alarm bells were rung. The buck now stops with Rahul Bhatia, the promoter and managing director of India’s largest airline that is facing its biggest crisis ever.
The 72 hours that saw IndiGo unravel
A crew crunch, new regulatory norms and simmering discontent push India’s biggest airline into its biggest crisis yet, one that could seriously dent its reputation for reliability.