Mumbai: Paytm shares fell 13% on the second trade day, after crashing 27% during their Thursday debut on the stock exchange.
Stocks closed at Rs 1,360, 37% below the issue price of Rs 2,150.
At the closing price of Monday, the company’s market capitalization reached Rs 88,185 Crore compared to the assessment of almost Rs 1.4 lakh crore at the IPO – which means shareholders have lost around RS 51,000 Crore in two trading days.
The company’s payment shares opened at Rs 1,500 on Monday, down from the previous close RS 1,564.
Around noon, when the company reached a low of Rs 1,271 and inched towards 20% of the lower circuit band, there was support for buying it to the closing level of Rs 1,360.
Investors who have supported the IPO RS 18,300 Crore include BlackRock and Canadian Pension Plan Investment Council.
The gloomy performance of the company in the stock exchange was welcomed by shock from investors.
On social media, investors are looking for answers about why companies receive support from the Blue-Chip institution and subscribe to 1.8 times with listings.
This happens even as another startup like Nykaa, Zomato and Policybazaar show resilience after the list.
This problem is managed by the top global investment bank and India.
Morgan Stanley, Goldman Sachs Group, Axis Capital, Icici Securities, JPMorgan Chase, Citigroup and HDFC Bank are the main managers who run books.
The company’s shares leveled even after releasing data on Sundays where it was said that the value of gross merchandise transactions and loan activities in the second quarter saw a big leap.
Macquarie has initiated research on Paytm, released a report on the day listing with a target price of 40% below the problem price.
On Monday, responding to new business numbers, Macquarie said in a report, “While GMV has grown 112% year-on-year, dominated by UPI (66% on FY21, according to our estimates), where Paytm produces zero -mdr ( Discount Level Trader).
We see shares upi climbing up to 85% by FY26E (estimated).
Therefore, we do not see the growth of GMV which is reported to be a material that affects our P & L estimation.
Paytm reports RS 890 Crore’s revenue on Q1 in The prospectuation, and we maintain our FY22E revenue estimate at Rs 4,500 Crore for Paytm.
Also, we will not estimate the October 2021 figure because they are influenced by strong sales.
“It added that the paytm loan distribution number was below estimates.
Veteran Banker Uday Box quickly corrects tweets from social media users accusing the box into part of the banker, according to the user, mentioning this problem.
“Please, get the fact properly.
The box does not manage Paytm.
The box manages Tin Zomato at a price of more than Rs 76 (current market price of Rs 150), Nykaa with the issue price of Rs 1,125 (current market price of Rs 2,100),” said Box in tweet.
Ashneer Grover, founder of Bharat PE who competed with Paytm for the acquisition of traders, said in an interview to the online portal that the company disrupted the market by selling Chinese investor shares through the IPO to return their money.
Paytm crash on day 2 too, down 37% since the IPO
