Paytm shares dropped ~13% after a 27% first-day fall after its $2.5B IPO, cutting its market value to ~$12B, in one of the worst debuts by a major tech company (Bloomberg)

Bloomberg:
Paytm shares dropped ~13% after a 27% first-day fall after its $2.5B IPO, cutting its market value to ~$12B, in one of the worst debuts by a major tech company  —  - Founder Sharma draws comparison to early struggles of Tesla  — Critics had questioned the company's valuation based on losses