scorecardresearch
Follow Us:
Sunday, November 28, 2021

Paytm shares continue to decline for second day; tumble nearly 14%

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.

By: PTI | New Delhi |
Updated: November 22, 2021 2:26:52 pm
paytm ipo, paytm ipo price, paytm ipo gmp, paytm ipo sizeA smartphone with the Paytm logo is placed on a laptop in this illustration taken on July 14, 2021. (REUTERS/Illustration/File Photo)

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.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement