India's Paytm crashes in market debut, business model questioned

India's Paytm crashes in market debut, business model questioned

Paytm founder Vijay Shekhar Sharma. Photo: Pradeep Gaur/Mint

Indian digital payments firm Paytm tumbled 26% on its maiden day of trade, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever IPO.