Since its IPO, Paytm has lost more than Rs 1 lakh crore in market capitalization

23 Nov 2022 , 11:05 AM

One97 Communications, the company that runs the Paytm payment network, had its shares hit a record intraday low of Rs. 476.65 before closing at Rs. 477.1 on Tuesday, down more than 11% from their previous close. At Tuesday’s closing price, the company’s market capitalization (m-cap) was Rs 30,971 crore, a decrease of approximately Rs 1 lakh crore from the time of the offering.

After Macquarie’s note from Monday warned that Paytm may face a “market share risk” from Jio Financial Services, the company’s shares plummeted on Tuesday. In the future, Jio Financial will be moderately competitive in the secured lending market in addition to being able to offer competitive rates in the merchant lending and digital unsecured lending industries, according to the report. Additionally, the company’s lock-in period expired on November 15 and 86% of its shares were made available for trading. According to data from BSE, the share price has decreased by 24% since that time.

For feedback and suggestions, write to us at [e-mail]