Paytm stock crashes 11% to end at all-time low of Rs 477 a share

Shares of Paytm crashed 11 per cent to finish at their all-time low of Rs 477 on Tuesday. The stock was already under selling pressure following the end of one-year lock-in period for pre-IPO investors. This was further exacerbated by a Macquarie report that said the fintech firm could potentially face headwinds with the entry of Jio Financial Services (JFS), which will likely focus on consumer and merchant lending, the mainstay of Paytm’s business.

At the last close, Paytm was valued at Rs 30,971 crore. In the IPO, it had sought valuations of Rs 1.39 trillion. The stock is now down 79 per cent from its IPO price of Rs 2,150, and has come off nearly 27 per cent this month.