If you are an investor and do love trading into IPOs, you might be familiar with the fact that Paytm recently debuted in the stock market on November 18th. However, if you are like me, who have bought shares in the thought that Paytm will do good when it hits the BSE, you might be wrong.
With an early price of ₹2150 per share, you had to opt for a minimum of 6 shares, and so I did too, but when it debuted on the stock market last week, shares already tumbled by over 27%. Now, to make things even worse, while today, i.e. Monday, Paytm traded for ₹1502 in the morning, then it saw another huge decline.
Currently trading at ₹1288, you see another 17% fall in value as I am writing this article. While other IPOs by ventures like Zomato, Nykaa have done well in the market, Paytm, on the other hand, dissolving around $2.5 billion in IPO has seen a huge downfall.
Literally, as an investor, I have already lost ₹5000 in less than a week of Paytm’s IPO offering. If you did too, well, the SoftBank and Ant Group funded company is showing no sign of positivity.
Founded by Vijay Shekhar Sharma in 2010, Paytm quickly became a giant for mobile DTH recharges. As more platforms like Uber, Dominos continued to accept via Paytm wallet, it quickly grew to be one of the giants in the revolutionary Indian Digital Payment network.
Though Paytm is suffering from the massive landslide in the stock market, primarily because of its piling losses each year, analysts seem optimistic about its future. What do you think? Was investing in Paytm IPO the worst decision, or does Paytm has the potential to hit back? Let us know in the comments down below.