Paytm shares erode over half of IPO investors' wealth in 2 months

Paytm parent One97 Communications' shares hit an all-time low below ₹1,030 apiece during intraday trade on Thursday, eroding over half of the value from its IPO price of ₹2,150 apiece. At the IPO price, the firm was worth around ₹1.39 lakh crore, but its market value now stands below ₹70,000 crore. Earlier, Macquarie Research retained 'underperform' rating on the stock.