The good days of Paytm, the parent company of One97 Communications and digital payment services giant in India, are not in sight. Since the listing, Paytm’s shares have lost more than 71 percent, due to which founder Vijay Shekhar Sharma has been left out of the list of billionaires. Now the company has got another setback, the target price of Paytm stock has been revised to Rs 450 by the analyst of Macquarie Capital Security.
The shares of Paytm, which brought a huge reduction in market capitalization of Rs 18,300 crore, were listed on the stock market on November 18, 2021. Its listing issue price declined by nine per cent from Rs 2,150. But, then neither the investors nor the company’s founder Vijay Shekhar Sharma thought that their bad days were going to start from the day of listing. But this is what happened and due to this, where the investors of the company are crying, on the other hand the market capitalization of the company has decreased by about one lakh crore rupees.