Paytm share price hits all-time low: Parent firm clarifies

Paytm's parent company One97 Communications clarified that the company has been complying with market regulator the Securities and Exchange Board of India (Sebi).

Paytm share price has become a topic of discussion after stocks of digital payment system on the share market nosedived to an all-time low on Tuesday. Paytm's parent company One97 Communications, in a late-night BSE filing, stated that the business fundamentals were robust.

One97 Communications clarified that the company has been complying with market regulator the Securities and Exchange Board of India (Sebi). The company has also made all necessary disclosures to stock exchanges, it stated.

"Further, as on date, there is no information/announcement, which in our opinion may have a bearing on the price/ volume behaviour in the scrip of the Company and which is yet not disclosed to the Stock Exchanges. The Company would also like to point out the business fundamentals remain robust as demonstrated in our last earning release dated February 04, 2022," One97 Communications stated.

Paytm IPO, which was launched in November 2021, was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at nearly Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.

However, stocks of Paytm made a subdued debut on share market on November 18, 2021 as prices sank 27 per cent, the biggest drop ever on opening day for share sales worth more than Rs 1,000 crore. The stock listed at Rs 1,950, a discount of 9.3 per cent to its offer price of Rs 2,150, and closed at Rs 1,564.

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