Paytm Paytm shares plunge on weak stock market debut
Mumbai/IBNS: Digital payment app Paytm made a weak debut in the stock market with its shares nosediving by 26 percent on Thursday, media reports said.
Paytm's stock opened for trading at Rs. 1,950 on the NSE, in a decline of 9.3% from its issue price of Rs. 2,150.
Despite the dip, the firm clocked the valuation of Rs. 1 lakh crore.
This occurred a week after e-commerce company Nykaa's shares surged by 89 percent on its debut in the stock market.
The surge has propelled Nykaa founder Falguni Nayar to become the country's richest self-made female billionaire in India.
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