Paytm share slips 10% in early trade, down 34% over IPO issue price

Stock of Paytm (listed as One 97 Communications) fell for the second straight session today post a weak market debut last week.

Paytm shares slipped 10.35% to Rs 1,402 against previous close of Rs 1,564.15 on BSE.  Market cap of the firm which remained above the Rs 1 lakh crore mark on the listing day, fell to Rs 93,490 crore in early trade today.

On NSE, the share fell 9.96% at Rs 1,402.85 against previous close of Rs 1,560.80.

With today's fall, the stock of Paytm has crashed 34.79% compared to its IPO issue price of Rs 2,150. Total 4.55 lakh shares of the firm changed hands amounting to a turnover of Rs 85.17 crore.

In the last session, the stock of digital payments firm Paytm ended 27% lower to the IPO issue price, leading to an erosion of investors' wealth worth Rs 38,000 crore.

The share fell 27.25% or Rs 585.85 to Rs 1,564 compared to the IPO price of Rs 2,150 on BSE.

The stock closed 20% lower compared to the opening price of Rs 1,955 on BSE and 19.99% lower compared to the opening price of Rs 1,950 on NSE.

The share closed at the lowest point of the session on both bourses.

Earlier, the stock made its debut at Rs 1,950, a discount of 9.3% to the issue price. The IPO was open for subscription from November 8 to November 10. Price band of the share sale was fixed at Rs 2,080-Rs 2,150 per share.