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
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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.
SoftBank's SVF Panther (Cayman), among others has also invested in the company
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One97 Communications banks on its services, other businesses to improve
The firm is raising Rs 57.99 crore for a series C funding round, of which Rs 15.99 crore in funds have come from One97
One97 Communications Founder Vijay Shekhar Sharma says Paytm Mall's focus has been to empower shopkeepers compared to other e-commerce players who are proxy retailers themselves