Paytm shares continue to decline for 2nd day; tumble nearly 14 per cent

The counter continued to bear deserted look as stock declines 13.66 per cent to Rs 1,350.35 on BSE

Paytm shares continue to decline for 2nd day; tumble nearly 14 per cent

Photo for representational purpose only. Reuters file

New Delhi, November 22

Shares of newly-listed One97 Communications, Paytm’s parent company, continued to decline for the second day in a row on Monday, tumbling nearly 14 per cent.

The counter continued to bear a deserted look as the stock declined 13.66 per cent to Rs 1,350.35 on BSE.

On NSE, it tumbled 13.39 per cent to Rs 1,351.75.

Shares of One97 Communications Ltd on Thursday made a weak market debut and tumbled over 27 per cent from the issue price of Rs 2,150. 

According to market analysts, concerns over valuation weighed on the stock.

Ant Group-backed Paytm’s Rs 18,300 crore IPO, India’s biggest share sale, was oversubscribed 1.89 times earlier this month.

This was greater than miner Coal India’s Rs 15,000 crore offer a decade back.

Incorporated in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants. PTI

Tribune Shorts


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