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Paytm Share Crash: Paytm’s stock fell on its face in Tuesday’s trading session. This is the first time when Paytm’s stock has fallen below Rs.500. The company had brought an IPO in November 2021 at a price of Rs 2150 per share. But the share of Rs 2150 has fallen to the level of Rs 477, down 78 per cent from the issue price.
Rs 500 down for the first time
When the stock market opened in the morning, the stock of Paytm opened at a price of Rs.535. But in no time, the stock fell by more than 11 per cent, breaking the level of Rs 500 and falling to a record low of Rs 477. The market cap of Paytm has also come down to Rs 31,363 crore.
Big investors selling shares
Earlier on November 17, 2022, after the block deal in Paytm’s shares on the stock exchange, there was a huge sell-off in the stock, when Japanese investor SoftBank sold its stake in Paytm through a block deal. Before the IPO of Paytm on November 18, 2022, the lock-in period ended for the big investors investing in the company, after which big investors are continuously selling the shares of Paytm.
1.07 lakh crore loss to investors
The IPO of fintech company Paytm came in November 2021 last year. Then the company came up with an IPO at a price of Rs 2150 per share. But since the listing on the stock exchange, the stock of Paytm has continued to decline. The share of Rs 2150 has now fallen to Rs 477. The stock has come down by around 78 per cent from the IPO price. When Paytm brought IPO at a price of Rs 2150, then its market cap was Rs 1.39 lakh crore, which is now Rs 31,363 crore. That means investors have lost about 1.07 lakh crores.
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