Paytm Shares' 75% Plunge Is World's Worst In Decade Among Large IPOs

Thursday, 24 November 2022newsdesk

One 97 Communications Ltd., the operator of India's largest digital-payments provider known as Paytm, has capped the worst first-year share plunge among large IPOs over the past decade -- and the pain is worsening.

New Delhi 24 November 2022

As per news report of NDTV, The company, whose founder compared its challenges to those faced by Tesla Inc. shortly after the listing, has seen its stock erase 75 per cent of its market value one year after its $2.4 billion offering, the largest on record at the time in India. The dive is the steepest first-year slide globally among IPOs that raised at least the same amount since Spain's Bankia SA's 82 per cent drop in 2012, data compiled by Bloomberg show.

Source - NDTV