paytm share price, country’s biggest IPO wastes investors’ money! Shares down more than 78% – paytm share price at fresh 52-week low, down 70% from ipo price
Investors who have invested in the country’s leading digital payment service provider, Paytm, in hopes of strong earnings, do not see an end to the bad days. It is difficult to predict when the fall in shares of One97 Communications, the parent company of Paytm, which has launched the second largest IPO in the country at Rs 18,300 crore, will stop. Shares of Paytm registered a big fall on Tuesday.
The share price is Rs. Below 500
The second trading day of the week saw a flat start in the stock market on Tuesday. Meanwhile, Paytm’s shares saw a fall from the start. Shares of the company fell 7.86 percent or Rs 42.20 to below Rs 500 by 10.30 am. So currently the shares are trading at Rs 494.80. Shares of Paytm had touched a level of Rs 486 at one point during early trading. Shares of Paytm were trading down 9.08 percent at Rs 488.25 till 12.15 pm.
The stock also fell last week
Even after news of the block deal broke last week, shares of Paytm’s parent company, One97 Communication, fell to sell. Shares of Paytm fell 9.32 per cent to Rs 545.40 on the news that Japanese Softbank Group is preparing to sell 2.9 crore shares of the company for around Rs 1750 crore.
Where did the share price reach?
The Paytm IPO had an issue size of Rs 18,300 crore and was priced between Rs 2,080 and Rs 2,150. The IPO was well received by investors, but the company has yet to recover from the fall in shares since the listing at a discount. Paytm’s stock was listed on the stock market in November 2021 at a discount of 9 percent at Rs 1,950.