Shares of Paytm’s parent company, One97 Communications, jumped over 10% on Tuesday after falling for two straight sessions following the first public offering of the firm.
The stock, which had been quiet for the previous two trading days, soared 9.90% to Rs 1,494.95 on the BSE. The stock rose 12.10% to Rs 1,525 during the day. It closed at Rs 1,494.70 on the NSE, up 9.93%.
One97 Communications Ltd’s stock had a shaky market debut on Thursday, falling almost 27% from its issue price of Rs 2,150.
On Monday, it dropped for the second day in a row, falling 13%. The stock market was closed on Friday in observance of Guru Nanak Jayanti.
Paytm’s Rs 18,300 crore initial public offering, India’s largest, was oversubscribed 1.89 times earlier this month. This was more than the Rs 15,000 crore offer made by miner Coal India a decade ago.
One97 Communications, founded in 2000, is India’s premier digital ecosystem for consumers and merchants.