Paytm shares fell more than 12 per cent on Wednesday after the anchor investor lock-in period ended, drawing more scrutiny to the financial services company after its disappointing debut last month.
The SoftBank and Alibaba-backed digital payment company’s shares on the National Stock Exchange slid in the minutes after trading on Indian exchanges opened, nearing a record low before recovering to close the day down 7.7 per cent.
Paytm’s November listing was among the worst in India’s stock market history and has cast doubt on a string of expected Indian flotations that was supposed to cement the country’s status as a leading tech destination after the US and China.
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