Paytm's anchors hit exit button as lock-in time ends

Shares of One97 Communications, Paytm's parent company, plunged as much as 13% on Wednesday as the mandatory 30-day-lock in period for the anchor investors in its initial public offering ended on Tuesday. The stock declined to its lowest level of ₹1,297.70 before closing at ₹1,380.05 on Wednesday, down 7.7% over the previous day's closing price. Paytm shares are trading 36% lower than its offer price of ₹2,150.

from Economic Times https://ift.tt/3F2c4Jx