IPOs get reality check

Disastrous debut: A shop where a QR code for Paytm is displayed in Mumbai. Investors have soured on new tech offerings after the calamitous public debut of the fintech firm. — AFP

MUMBAI: A boom in technology initial public offerings (IPOs) in India risks grinding to a halt after several of the country’s highest-profile startups tanked soon after listing.

A raft of prominent tech startups, including Oyo Hotels and logistics provider Delhivery, are pushing back their public debuts and preparing to reappraise target valuations, according to sources.