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Home » business » Paytm shares continue to decline for 2nd day; tumble nearly 14 pc

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

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

By Newsd
Published on :
Paytm Money

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 percent.

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

On NSE, it tumbled 13.39 percent to Rs 1,351.75.

Shares of One97 Communications Ltd on Thursday made a weak market debut and tumbled over 27 percent 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.

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