MUMBAI: Shares of One97 Communications, which operates Paytm, closed nearly 8% down on Wednesday as the lock-in period for anchor investors came to an end. Shares of the payment company opened marginally lower at Rs 1,429 but soon fell 13% over its previous close to Rs 1,298, before recovering to close at Rs 1,380.
At the latest closing price, the company has a market capitalisation of Rs 89,465 crore, which is more than 10% lower than Nykaa’s mcap of over Rs 1 lakh crore. According to a report by Edelweiss, the percentage of anchor shares to outstanding is 5.9% in Paytm.
Paytm had raised Rs 8,235 crore in its anchor round, which was more than most public issues. Regulations require that investors who participate in the anchor round are locked in for one month. The year-end is also the time when foreign investors sell shares in order to repatriate profits.
At the latest closing price, the company has a market capitalisation of Rs 89,465 crore, which is more than 10% lower than Nykaa’s mcap of over Rs 1 lakh crore. According to a report by Edelweiss, the percentage of anchor shares to outstanding is 5.9% in Paytm.
Paytm had raised Rs 8,235 crore in its anchor round, which was more than most public issues. Regulations require that investors who participate in the anchor round are locked in for one month. The year-end is also the time when foreign investors sell shares in order to repatriate profits.
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