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Paytm investors lose 40% in 2 days, over Rs 50,000 crore market cap eroded

Paytm shares continue to extend losses after a weak debut on Thursday amid concerns over steep valuation, business model and path to profitability.

November 22, 2021 / 13:57 IST
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Shares of One97 Communications, the parent company of Paytm, continued to bleed on the second day since its listing, wiping over Rs 50,000 crore off its market capitalisation.

At 12:04pm today, the shares were trading at Rs 1,299 on the BSE, down over Rs 264, or almost 17 percent, from the previous session.

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The stock had listed at a discount of 9 percent and closed down 27 percent on November 18 on the back of uncertainty over the business model, path to profitability, and concerns over steep valuations.

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