Paytm shares continue to fall for second straight day

The downhill run of Paytm shares continued unabated on Monday -- the second day of trading for the digital payments and ecommerce entity.
 
On BSE, the shares opened lower at Rs 1,500 -- it closed Thursday at Rs 1,564.15 -- before dipping further to touch a low of Rs 1,370 during the early morning trading session. The low was another 12.41 per cent fall, following the 27 per cent fall -- compared to its issue price of Rs 2,150 -- on its day of debut.
 
At 10:30am, Paytm shares were trading at Rs 1,382.70, down 11.60 per cent. In other words, the stock of the digital major has lost a total of Rs 767 per share or nearly 36 per cent.
 
One97 Communications, the parent firm of Vijay Shekhar Sharma-owned Paytm, had one of the worst debuts in stock market history last week as the stock lost more than one-fourth of its value on the first day. This was in sharp contrast to some of the recent stock market debuts by biggies from the start-up world.
 
Nykaa, Zomato and Policybazaar all saw their stock price gain significant ground on the day they made their entry on the stock market platform. Incidentally, these also saw a huge response to their initial public offers (IPOs), which was also not the case with Paytm, whose public issue was subscribed a mere 1.89 times.
 
Nykaa, on the other hand, saw its IPO getting subscribed nearly 82 times while that of Zomato was subscribed over 38 times.

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