Stock slips 12.3% on Tuesday to end at a new low of Rs 592, as RBI ban on Paytm Payments Bank from onboarding new customers last Friday weighs
Paytm has elevated Madhur Deora to take on the additional responsibility as the CFO of One97 Communications Limited. Currently, Deora holds the role of the company's Group President and CFO.
Fear of withdrawal of easy money and lack of profits will likely weigh on these counters in the near-term
Bajaj Finance hits new high on Q3 results; falls on profit-booking later; Paytm hits new low; declines 26% in three weeks; AGS Transact Technologies IPO subscribed 85% on day 1
Shares of One97 Communications-owned Paytm rebounded on Friday after a sharp fall in the past few sessions.
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing
The company had allotted 38.30 million equity shares to anchor investors at Rs 2,150 per share
The event in a way will nudge people to be cautious and not take the market for granted by blindly placing bets, says a market expert
Given the offer's aggressive pricing and the fact that One97 Communications, the parent company of Paytm, still remains a loss-making entity, most analysts had expected a sub-par listing
Market experts said domestic investors shunned the IPO as a high-risk bet
Does Diwali glitter mean turnaround for the Indian film industry? Will satellite broadband bridge India's digital divide? What is digital gold, and should you invest in it? Get all the answers here
Some brokerages like Marwadi Financial Services have sounded caution
This follows a directive from the Reserve Bank of India
Paytm continues to have market leadership by transaction volume
Digital payments major to raise Rs 8,300 cr fresh capital; Vijay Shekhar Sharma, SoftBank, SAIF to divest
The firm's GMV increased to Rs 4.03 trn as of March 31, 2021, from Rs 2.29 trn as of March 31, 2109
Vijay Shekhar Sharma-founded firm had to shelve Rs 120-cr IPO last minute in December 2010
The company's much-awaited IPO is expected to come by November this year
The loan will be given in two tranches, payable within five years, and will also have the option to be converted into equity shares
Noida has been the headquarters of Paytm for over two decades now and the company is on-track to shift to the new premises by December this year.