On Wednesday, its shares fell as much as 13% after the lock in period for anchor investors ended
Since its weak listing on November 18, Paytm shares have been through a roller coaster ride touching an all-time high of INR 1,961.05 and a low of INR 1,271.25 per share
In November, One97 Communications reported a 63.6% increase in its revenue from operations during the July-September quarter at INR 1,086.4 Cr
Shares of fintech decacorn Paytm recovered today (December 16th) after falling 7.7% in its previous session.
According to analysts, the rise in share price was largely due to the purchase of shares by investors at lower prices.
The fintech giant’s shares on the BSE closed at INR 1,399.30, higher by INR 19.25 or 1.39% from its previous close.
On Wednesday, its shares declined as much as 13.22% as the lock-in period for anchor investors ended. The shares, however, somewhat recovered from their intra-day low level on Wednesday to end at 7.7% lower at INR 1,380.05.
The end of the lock-in period is generally expected to result in the decline of share prices.
Tradingo founder Parth Nyati had noted that Paytm is finding buying interest at lower levels. However, INR 1,700 may act as a resistance level and the shares may remain in the INR 1,300 – INR 1,700 range until the market determines its right value.
Since its weak listing on November 18, shares of Paytm have been through a roller coaster ride touching an all-time high of INR 1,961.05 and a low of INR 1,271.25 per share.
Paytm Record Jump In GMV & Revenues
On Monday, the NCR-based digital payments giant said that its gross merchandise value (GMV) for the October-November period of FY22 stood at INR 1.66 Lakh Cr, registering a growth of 129% compared to the same period of the last financial year (FY21).
Its GMV during the first two months of Q3FY21 was INR 72,800 Cr.
In a regulatory filing, the recently listed company said that the number of loans through its platform increased by 414% on a year-on-year (YoY) basis to 27 Cr loans in the first two months of the quarter. Value of loans disbursed through the platform increased by 375% year-on-year to INR 1,320 Cr ($178 Mn) in the first two months of the quarter.
On November 27th, 2021, One97 Communications, which owns Paytm reported a 63.6% increase in its revenue from operations during the July-September quarter at INR 1,086.4 Cr.
The fintech giant had attributed the jump in revenue to a 52% growth in non-UPI payment volumes (GMV) and more than three-times growth in financial services and other revenue.
However, its net losses for the second quarter of FY22 widened by 8.42% to INR 473.5 Cr during July-September quarter, from INR 436.7 Cr reported a year ago.