The stock of Paytm has seen a big decline since the IPO. This fall has now made the exchange think as well. The Bombay Stock Exchange has sought an explanation from Paytm regarding the steep fall in shares. Let us tell you that since the IPO, the shares of Paytm have fallen by up to 76 percent.
Big loss for investors: Paytm had raised Rs 18,300 crore from investors in the stock market at the rate of Rs 2150 per share. It was the country’s biggest IPO in terms of money raised, but since its listing in the market, the stock has hit investors hard. The stock slipped up to 25 per cent from its issue price on the very first day of listing, after which the stock continued to decline. At the time of IPO, the market capitalization of Paytm was Rs 1.39 lakh crore, which has now come down to less than Rs 35 thousand crore.
Ban on Paytm Payment Bank: On March 11, the RBI had ordered an audit of the IT system on Paytm Payments Bank, a unit of Paytm, with a ban on new customers. A media report had also surfaced on this ban imposed by RBI, in which it was claimed that the data of consumers was being sent abroad from the company’s servers. At the same time, in this report, questions were also raised on the way the company did KYC, it was also seen linking it to money laundering. While giving clarification on the media reports, Paytm had told them to be false and sensational.
Paytm dropped by 30 percent in a month: After the news, there has been a big decline in the stock of Paytm. Talking about the last one week, the share price of Paytm was Rs 633 on March 17, 2022, which is doing business on March 24 at 10:57 am on NSE at Rs 533 per share. In this way, the stock has fallen by 15.33 percent in the last one week.
A month ago, on February 24, the share price was Rs 777, which is trading at Rs 533 per share on March 24 at 10:57 am on NSE. In this way, the stock has fallen by more than 30 percent in the last month.