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.