A new hype train sets off

As was expected - or perhaps I should say feared - the success of the Zomato IPO has triggered off a wave of similar IPOs. When I say 'similar', I'm referring to a new category of businesses, in fact, a new way of categorising businesses. This is not about the similarity in scale or sector or industry, which were the ways to categorise companies earlier. This is a new phenomenon. There is nothing much common between Zomato and Paytm by the traditional way of looking at companies.