New Delhi: Shares of One97 Communications, the parent company of the country’s largest digital company Paytm, continued to fall on Monday. The company’s stock was listed on the stock market on Thursday. On Thursday, on the day of its knock in the stock market, it had fallen by 27 percent. In the early trade on Monday, the company Paytm (Paytm Share Price) has seen a decline of about 13 percent. The company’s stock has fallen nearly 40 percent in two days.
Shares of Paytm so far:
Till 11.30 am today, it was trading at Rs 1376.75, down 11.98 percent. During trading on BSE, it had fallen to Rs 1350.35. Experts say that it may fall further in the coming days. At present, the company’s profit cannot be estimated. Let us tell you that the issue price of the share of Paytm’s parent company One97 Communications was Rs 2150 and it was listed in the market for Rs 1950.
What market analysts say on Paytm:
Paytm is the most expensive IPO of the Indian stock market ever, which is worth around Rs 18,300 crore. Analysts say that the reason for the weakness in the stock market of Paytm could be its market valuation. There were many such IPOs in the market in the past, whose valuations were very high and investors had shown less interest in such companies as well.
Some market analysts also say that the stock should have been listed at Rs 1,200 in the market. Because its gray market premium (GMP) at the time of bidding was around Rs 150. By the time of bidding it was done. 40 rupees reached. On the other hand, the share price of India’s biggest companies like Tata Group, Reliance has also been much lower than the listing price of Paytm. For these reasons, investors have distanced themselves from Paytm.
For more information on Gray Market Premium (GMP), read this Moneycontrol report.
Disclaimer: The views given above are those of individual analysts or broking companies. Explainedpost.com advises users to check with certified experts before taking any investment decision.