Skip to content

Paytm Sinks to Record Low in Mumbai as Investor Caution Prevails

  • Sentiment remains weak for firm that had India’s biggest IPO
  • A post-listing lockup on anchor investors expired this week
A juice stall advertises the use of the Paytm digital payment system in Mumbai.

A juice stall advertises the use of the Paytm digital payment system in Mumbai.

Photographer: Dhiraj Singh/Bloomberg
Updated on

Shares of Indian digital payments giant Paytm closed at the lowest since their market debut last month following the nation’s biggest-ever initial public offering, as investors remain concerned about the startup’s path to profitability.

The stock dropped 5.6% to 1,321 rupees in Mumbai, extending this week’s losses to almost 16%. It slid about 8% on Wednesday after a post-listing lockup on sales of shares allotted to anchor investors expired.