Stock of Paytm (listed as One97 Communications) slipped over half dozen per cent on weekday once shareholders of the firm were suggested by the Institutional capitalist informatory Services Republic of India (IIAS) against the reappointment of Vijay Shekhar Sharma as its chief govt, and his remuneration.
The proxy informatory firm has aforesaid that Sharma had, within the past, created commitments that didn't play out well.
Paytm shares slipped half dozen.12 per cent to Rs 775 against the previous shut of Rs 825.50 on BSE.
The stock opened lower at Rs 820 these days.
Shares of the digital payments firm were commercialism over 20-day, 50-day and 100-day moving averages however not up to 5-day and 200-day moving averages.
However, the stock has lost forty.57 per cent in 2022 however up fourteen per cent in an exceedingly month. Market cap of Paytm fell to Rs fifty one,531 large integer on BSE.
Total 3.40 100000 shares of the firm modified hands amounting to a turnover of Rs twenty six.79 crore. The stock hit a 52-week high of Rs 1961.05 on November eighteen, 2021 and a 52-week low of Rs 511 on might twelve, 2022. IIAS spoke regarding the large fall in Paytm shares from the problem value leading to destruction of wealth for shareholders.
The stock has lost over sixty three per cent from its IPO issue value of Rs a pair of,150. The IPO of the firm was open from November eight, 2021 to November ten, 2021.
Shares were offered in an exceedingly value band of Rs a pair of,080 to Rs a pair of,150 throughout the IPO.The IPO was signed one.89 times on the Judgment Day. the general public issue was signed one.66 times within the retail class, 2.79 times within the QIB class, and 0.24 times within the non-institutional investors class.
The firm aforesaid that they believe that the board should take into account professionalising the management, in keeping with a report within the Economic Times.
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