New Delhi: Shares of newly-listed One97 Communications, parent company of Paytm, continued to decline for the second day in a row as it tumbled 13 per cent on Monday.
The counter continued to bear a deserted look as the stock declined 18.72 per cent to Rs 1,271.25 during the day on BSE. It tanked 13.03 per cent to close at Rs 1,360.30.
On NSE, it tumbled 12.89 per cent to settle at Rs 1,359.60. In volume terms, 19.12 lakh shares were traded on BSE and over 2.51 crore on NSE.
Shares of One97 Communications Ltd on Thursday made a weak market debut and tumbled over 27 per cent from the issue price of Rs 2,150.
According to market analysts, concerns over valuation weighed on the stock. Equity markets were closed on Friday on account of ‘Guru Nanak Jayanti’.
Ant Group-backed Paytm’s Rs 18,300 crore IPO, India’s biggest share sale, was oversubscribed 1.89 times earlier this month.
This was greater than miner Coal India’s Rs 15,000 crore offer a decade ago.
Incorporated in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants.