Paytm Shares Continue To Plunge After Weak Market Debut, Down Nearly 16%

Monday, 22 November 2021Newsdesk

Shares of Paytm fell as much as 15.96 per cent in their second day of trading. On Thursday, the digital payments start-up made one of the worst major stock market debuts in India, as its shares fell more than 28 per cent after the country's largest-ever initial public offering (IPO).

New Delhi, 22 November 2021

As per news report of NDTV, Paytm's IPO was subscribed 1.89 times last week. On the BSE index, the stock touched an intraday low of ₹ 1,314.55. Analysts have pointed at the firm's expensive valuations as the reason behind the plunge in its stock price. Several market participants saw the stock's performance as a sign that investors had become disillusioned with a recent string of IPOs with inflated valuations.

Source - NDTV