Updated: December 15, 2021 10:50:19 am
Paytm share price: Shares of One 97 Communications, the parent company of digital payments platform Paytm, fell as much as 13 per cent in the early morning deals on Wednesday after the lock-in period of its institutional investors expired.
Paytm had a disappointing debut last month, listing at a 9 per cent discount from its issue price and hitting a lower circuit on the first day.
During the opening deals on Wednesday, the scrip crashed 13.37 per cent to Rs 1,296.00 apiece on the National Stock Exchange (NSE), while on the BSE, it declined 13.22 per cent to Rs 1297.70.
However, the stock trimmed some of its early losses and was down around 9 per cent lower in the late morning deals. At 10:32 am, it was trading at Rs 1358.00, down 9.19 per cent while on NSE, it was at Rs 1,363.40, down 8.87 per cent.
The company had earlier this week reported an over two-fold rise in its gross merchandise value to about Rs 1,66,600 crore in the first two months of the third quarter of this fiscal, driven by a sharp uptick in loan disbursals.
Paytm refers to GMV as the value of total payments made to merchants through transactions on its app, through Paytm payment instruments or through its payment solutions, over a period. It excludes any consumer-to-consumer payment services such as money transfers.
The number of loans disbursed from the Paytm platform increased over four times to 27 lakh during the reported period, from 5.30 lakh a year ago.
The value of loan disbursed increased by 375 per cent on a year-on-year (y-o-y) basis to Rs 13,200 crore (USD 178 million) in the first two months of the quarter from Rs 280 crore.
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