
Warren Buffett-backed Paytm stumbles on first day of trading after launching milestone IPO for India
CNN
It's turning into a monumental year for India's stock market, as yet another big startup makes its public debut.
Paytm started trading on the BSE, also know as the Bombay Stock Exchange, on Thursday. Its initial performance was shaky: The stock started trading at 1,955 rupees ($26) per share, below the 2,150 rupees ($28.60) offer price. It was last down almost 18%, trading at 1,610 rupees ($21.40).
The company is currently valued at around $15 billion.
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