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Latest Live news: Paytm's IPO, India's largest, is oversubscribed although investors showed less enthusiasm than for some other tech firms' offerings.

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Today News | Nykaa | Paytm

BS Web Team  | New Delhi 

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Latest Live news: Falguni Nayar’s beauty startup has jolted her to the ranks of the world’s richest. Nayar, who owns about half of Nykaa, is now worth almost $7 billion as shares of the firm nearly doubled on their trading debut Wednesday. She’s become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index.

Ltd on Wednesday reported a wider loss for the quarter ended September, hurt by a steep rise in expenses. Consolidated net loss for the loss-making food delivery company was Rs 4.3 billion ($57.85 million) for the second quarter, compared with a loss of Rs 2.30 billion a year earlier.

Paytm's $2.5 billion initial public offering, India's largest, was oversubscribed at the close of bidding on Wednesday, although investors showed less enthusiasm than for some other tech firms that have ridden the country's boom.

The company, which had already raised $1.1 billion from anchor investors, received $2.64 billion worth of bids for the remaining shares on offer, or 1.89 times, according to stock exchange data.

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