There is an outcry among the investors of Paytm. When the decline was dominant in the market, then the shares of Paytm were falling, but even during the upswing in the market, the stock continues to decline. On Wednesday, the stock fell to close to Rs 450.
In fact, ever since the IPO of Paytm has been launched, since then investors have been waiting for a boom, but are getting nothing but disappointment month after month. On Wednesday, the stock fell nearly 5 per cent to Rs 452, its lowest ever recorded. Those investing in Paytm’s IPO are not able to understand when the fall will be stopped.
Paytm’s stock has lost more than 28 percent in the last one month. Whereas during this period a 3 percent gain has been registered in the index Nifty. Paytm’s share has fallen by 26 per cent in 6 months, while in one year the share has lost almost 70 per cent.
The stock had crashed last week as well
Due to this, even after the news of Block Deal came last week, there was a rush to sell the shares of One 97 Communication, the parent company of Paytm. Due to the news of selling shares worth about Rs 1,750 crore by the Japanese Softbank Group, Paytm shares had crashed by 9.32 per cent.
Where did the stock price reach from?
Let me tell you, the issue size of Paytm IPO was Rs 18,300 crore and for this the price band was fixed from Rs 2080 to Rs 2150. Investors gave tremendous response to this IPO. But the company has not been able to recover from the fall in the shares since the listing at a discount. Paytm’s stocks were listed on the stock market in November 2021 at Rs 1,950 with a 9 per cent discount.
Paytm started 10 years ago
Paytm started about 10 years ago. Initially the company was known as a mobile recharge platform, but during the demonetisation in 2016, the Paytm Paymate service skyrocketed under the leadership of CEO Viyaj Shekhar Sharma. Let us tell you that till the news was written in the stock market on Tuesday, the BSE Sensex was trading at the level of 61,299.17 with a gain of 154.33 points or 0.25 percent, while the NSE Nifty was trading at the level of 18,200.95, gaining 41 points or 0.23 percent.