Paytm crashes 27% on market debut, wipes out Rs 38K-cr in investor wealth

Worst day 1 show among large IPOs

One97 Communications, the parent company of digital payments major Paytm, made a dismal debut on the bourses on Thursday, listing at a 9 per cent discount to the issue price of Rs 2,150 as concerns over the company’s lofty valuation and scepticism about its business model weighed on the stock.
 

The stock plummeted as the day progressed, hitting the 20 per cent lower circuit, causing a halt in trading. It fell further after trading resumed to end the day at Rs 1,564, down 27 per cent, on the BSE. At the closing price, the company was valued at Rs 1.01