Markets

Paytm shares slide for 2nd day; tumble nearly 14%

Shares of newly-listed One97 Communications, Paytm's parent company, continued to decline for the second day in a row on Monday, November 22, 2021, tumbling nearly 14 per cent.

The counter continued to bear a deserted look as the stock declined 13.66 per cent to ₹1,350.35 on BSE.

On NSE, it tumbled 13.39 per cent to ₹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 ₹2,150.

According to market analysts, concerns over valuation weighed on the stock.

Ant Group-backed Paytm's ₹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 ₹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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Printable version | Jan 24, 2022 5:53:38 PM | https://www.thehindu.com/business/markets/paytm-shares-slide-for-2nd-day-tumble-nearly-14/article37620290.ece

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