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Paytm Share Crash: Big drop of 10% in Paytm shares, shares worth 1700 crores sold in block deal

Paytm Share Price: The stock of fintech company Paytm is seeing a big decline in Thursday’s trading session. The stock opened with a fall of 6.5 per cent after the block deal in Paytm’s stock on the stock exchange. But after heavy selling, the stock fell 10 per cent to Rs 541. This is the lowest level of Paytm stock after July 26, 2022.

It is believed that big deals of 3.1 crore shares have taken place on the stock exchange. In which 2.90 crore shares, Japanese investor SoftBank has sold its stake in Paytm through a block deal at a discount rate of 7.72 per cent from Wednesday’s closing price.

Let us tell you that on Friday, November 18, 2022, ie before the IPO of Paytm, the lock-in period is ending for the big investors investing in the company. It is believed that after the end of the lock-in period, there may be a big fall in the stock, in which case the pressure on the Paytm stock may remain.

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Paytm’s IPO came in November 2021 last year. Then the company issued an IPO at a price of Rs 2150 per share. But since the listing on the stock exchange, the stock of Paytm has continued to decline. The share of Rs 2150 is now trading at Rs 547. That is, the stock is trading 75 percent below the IPO price. The market cap of Paytm has currently come down to Rs 35,469 crore.

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