Shares of newly-listed One97 Communications, Paytm’s parent company, continued to decline for the second day in a row on Monday, tumbling nearly 14 per cent. The counter continued to bear a deserted look as the stock declined 13.66 per cent to Rs 1,350.35 on BSE.
On NSE, it tumbled 13.39 per cent to Rs 1,351.75. 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. Ant Group-backed Paytm’s Rs 18,300 crore IPO, India’s biggest share sale, was oversubscribed 1.89 times earlier this month.