 "Paytm shares jump nearly 10% after a 37% fall in two trading sessions")
Shares of Paytm jumped nearly 10 per cent on Tuesday, recovering from a 37 per cent drop during its first two trading sessions. The stock ended at Rs 1,490, up Rs 130, or 9.6 per cent over its previous day’s close, giving the company a market cap of Rs 96,913 crore.
The shares are now down 31 per cent over its initial public offering (IPO) price of Rs 2,150. Paytm made its stock market debut on Thursday during which its shares slumped 27 per cent.
This was the worst-ever listing day performance for an IPO of Rs 1,000 crore or more. Paytm’s Rs 18,300-crore, India’s largest-ever, had managed to garner just 1.89 times subscription.
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