,A journalist\xe2\x80\x99s work is always rooted in facts.

But sometimes, when we

talk to sources, we tend to come across what ifs. Like last week, when I was
talking to an analyst about Paytm*.\xc2\xa0The listed fintech has had a miserable
time at the bourses recently. As of Wednesday, its stock was at an all-time low of
Rs 450 (US$5.5), and its market capitalisation a little under than Rs 30,000 crore
(US$3.5 billion)\xe2\x80\x94lower than the company\xe2\x80\x99s US$4.8 billion
valuation in 2016 and far lower than the US$14.5 billion on the day it got listed.\
xc2\xa0There were a couple of important things that happened to Paytm over the past
few days that have led to this latest dip in share prices.\xc2\xa0The first one was
inevitable. Last week, as the post-listing lock-in period for investors ended,
Japanese investment giant Softbank sold
https://www.reuters.com/technology/softbank-sell-215-mln-stake-indias-paytm-cnbc-
tv18-2022-11-16/ a 4.7% stake in the company. Paytm\xe2\x80\x99s stock fell 10% in
response.\xc2\xa0Then, this Tuesday, the stock fell another 11%.\xc2\xa0Because a
report from brokerage Macquarie said Jio Financial Services (JFS) is now poised to
become the fifth-largest financial services player in India. And two companies in
particular are expected to feel the heat with JFS\xe2\x80\x99 launch\xe2\x80\
x94Bajaj Finance and Paytm. Bajaj\xe2\x80\x99s share price has remained largely the
same, given the kind of credit growth it has maintained over the years. We already
know what happened to Paytm shares.\xc2\xa0Which brings us to that \xe2\x80\x98what
if\xe2\x80\x99 my source brought up during our conversation:\xc2\xa0Paytm may
actually be a good acquisition bet for JFS. Why could Paytm be a good buy for Jio?
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