Skies darken for Indian IPOs after Paytm's diappointing debut

FILE PHOTO: The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture taken July 7, 2021. REUTERS/Florence Lo/Illustration

MUMBAI (Reuters) - Paytm's dismal stock market debut this week is likely to put a damper on future offerings after the IPO of the digital payments firm ranked among the worst-performing in Indian history, six analysts and bankers said on Friday.

Indian companies have raised a staggering $9.7 billion through initial share sales in the first nine months of 2021, for the highest such tally in any of the corresponding periods of the last two decades, said accountants EY.