The country’s largest digital payment service provider Paytm has given a big blow to its investors. Shares of Paytm’s parent company One97 Communications, which launched its biggest-ever IPO of Rs 18,300 crore, have been falling since the day of listing. Its share price is currently around 44 per cent lower than the issue price.
Let us tell you that the shares of Paytm were listed on the stock exchange on Thursday last week. Its listing was about 9 per cent lower than the issue price. Its share price continued to decline since the first day of listing and was down 27% by the end of trading. Today, on the first day of the week, it recorded a further decline of up to 17 per cent. The company’s share price has fallen by more than 44 per cent in just two days.
Significantly, at 11:30 am on Monday, Paytm’s shares were trading at Rs 1,376.75, down 11.98 per cent. During trading on BSE, it fell to Rs 1350.35. In this way, investors have lost more than Rs 800 per share. In October, the company’s GMV grew 131 per cent year-on-year to ₹11.2 billion. But it has declined since its listing in the market.