Fintech major Paytm lost more than 75% of its market value since listing, the world’s largest single-year drop in share prices among large initial public offerings (IPOs) in the last decade.
Paytm stock traded as low as INR 441.05 on November 24, 2022, after selling for INR 1,796.55 on the bourses on November 25 last year. Between then and now, the fintech behemoth has wiped out nearly three-fourths of investor wealth. Paytm experienced the steepest first-year drop among IPOs that raised at least the same amount since Spain’s Bankia’s 82% drop in 2012. Paytm stock has been heavily discounted as a result of the expiration of the lock-in period for pre-IPO anchor investors earlier this month.
