Paytm shares suffer losses for second straight session

Paytm parent One97 Communications’ shares extended losses for the second straight session and tanked over 13 per cent.

For those who had subscribed to the IPO and are still holding on to the shares, almost Rs 51,000 crore of market value has been eroded even as the total losses to the investors stand at almost 40 per cent over the issue price.

However, founder Vijay Shekhar Sharma has compared the company to Tesla Inc and told employees that the electric vehicle maker also had to face a poor run at the markets initially and later went on to become well-recognised globally. Sharma also told them to not get worried about the poor listing and concentrate on expanding the business.