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News on Medial
Paytm shares crash another 9% as investors lose Rs 26,000 crore in 10 days
Economic Times
·
1y ago
Medial
Shares of One 97 Communications, the parent company of Paytm, have tumbled 9% to Rs 344.90 on BSE, losing about 55% or Rs 26,000 crore in market capitalization since the RBI ban. Macquarie, which had previously upgraded Paytm stock, has now downgraded it, stating that the company is fighting for survival and faces the risk of customer exodus, jeopardizing its business model. Lending partners are also reconsidering their relationship with Paytm, which could further impact revenues. Experts advise caution for retail investors in light of regulatory challenges.
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Related News
Paytm price band revised to 10% after investors lose ₹15,000 crore in 2 days
Money Control
·
1y ago
Medial
The daily limit on shares of Paytm operator One97 Communications has been revised to 10% from 20% on NSE and BSE. The change comes after the stock hit 20% lower circuit for the second consecutive day on Friday, wiping out ₹15,016 crore from investors' wealth in two days. Paytm stock was hit after RBI put curbs on Paytm Payments Bank.
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Paytm shares turn into bottomless pit as stock tanks another 5% to new low
Economic Times
·
1y ago
Medial
Shares of One 97 Communications, the parent company of Paytm, dropped 5% to a fresh record low of Rs 325.30 on BSE following the investigation by the Directorate of Enforcement (ED) into alleged violations of Foreign Exchange Management Act (Fema). Paytm has lost approximately Rs 27,000 crore, or 57% of its value, in the last 11 days. Experts advise retail investors to avoid the stock until regulatory hurdles are resolved. Macquarie predicts the stock could decline to as low as Rs 275.
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Paytm shares nosedive 9% amid reports of ED probe in crypto scam
Economic Times
·
6m ago
Medial
Paytm's shares dropped by 9% after reports indicated the company is among eight payment gateways under investigation by the Enforcement Directorate (ED) for involvement in a major cryptocurrency scam, known as the HPZ Token scam. The accused collected over Rs 2,200 crore from investors across 20 states. The ED has frozen approximately Rs 500 crore in connection to the scam, which included funds held temporarily by payment gateways like Paytm, PayU, and Razorpay.
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BlackBuck IPO: Issue Subscribed 53% On Final Day So Far
Inc42
·
8m ago
Medial
On November 18, BlackBuck reported that 53% of its shares have been subscribed in its IPO. Investors bid for a total of 1.20 crore shares out of the 2.24 crore shares on offer. Additionally, employee shares received an oversubscription of 8.40x, with bids for 2.18 lakh shares against the reserved 26,000 shares. Despite this, the response from qualified institutional buyers and non-institutional investors remained on the bearish side during the final day of the IPO.
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35-year-old Paytm employee dies by suicide in Indore
Inshorts
·
1y ago
Medial
A 35-year-old Paytm employee has died by suicide in Indore. He was found hanging at his home on Sunday. According to preliminary investigation, he was under stress for the last few days fearing that the company might shut down and he might lose his job, police said. Recently, the Reserve Bank of India had imposed restrictions on Paytm Payments Bank.
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RIL's demerged unit Jio Financial Services to get listed on stock exchanges on August 21
IndianStartupNews
·
1y ago
Medial
Jio Financial Services, demerged from Reliance Industries, will be listed on stock exchanges starting August 21. The equity shares will be listed and traded in the Trade-for-Trade (T2T) segment for 10 trading days, where delivery-based trading occurs. Jio Financial Services currently holds a dummy ticker, and its price discovery was set at Rs 261.85, leading to a market capitalization of Rs 1.66 lakh crore. The company's shareholding includes 45.80% by promoters, 6.27% by mutual funds, and 26.44% by foreign institutional investors.
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Go Digit IPO: Price band for Virat Kohli-backed Rs 2,615 crore IPO announced
Economic Times
·
1y ago
Medial
Bengaluru-based insurtech start-up Go Digit General Insurance is set to launch its Rs 2,615 crore IPO from May 15 to May 17, with a price band of Rs 258 to Rs 278 per share. The IPO consists of fresh issue of shares worth Rs 1,125 crore and an offer for sale of 54,766,392 shares. The bidding process allows a maximum of 55 equity shares. 75% of the IPO is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Go Digit's net earned premium for the nine-month period ending December 2023 rose to Rs 5,115 crore, while its profit after tax reached Rs 129 crore.
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Antfin completes 3.6% stake sale in Paytm
IndianStartupNews
·
1y ago
Medial
Antfin (Netherlands) Holdings, founded by Jack Ma, has sold a 3.6% stake in Paytm for Rs 2,097 crore ($280 million). The investment firm offloaded 2.27 crore shares at Rs 895.20 per share. This follows Paytm CEO Vijay Shekhar Sharma's acquisition of a 10.30% stake through his overseas entity, raising his holding to 19.42%. Paytm recently reported a 39% YoY growth in revenue to Rs 2,342 crore and a 167% YoY growth in loans disbursed to Rs 14,875 crore.
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Smartworks opens strong on stock exchange; market cap crosses $600 Mn
Entrackr
·
24d ago
Medial
Smartworks opens strong on stock exchange; market cap crosses $600 Mn Managed office space provider Smartworks made its stock market debut on Thursday, listing at Rs 435 per share on the National Stock Exchange, a 7% premium over its issue price of Rs 407. The IPO, which was oversubscribed 13.92 times, comprised a fresh issue of Rs 445 crore and an offer for sale (OFS) of 34 lakh shares worth Rs 137.5 crore. The price band was fixed at Rs 387–407 per share. The public issue received bids for 14 crore equity shares against 1 crore shares on offer. Qualified institutional buyers (QIBs) led the demand, subscribing 24.92 times their allotted quota, followed by non-institutional investors (NIIs) at 23.68 times. Promoters NS Niketan LLP and SNS Infrarealty LLP collectively earned Rs 32 crore through the OFS. Meanwhile, investor Space Solutions India Pte. Ltd (formerly Lisbrine Pte. Ltd) raked in Rs 107 crore, marking a 3.8X return and a profit of Rs 77.3 crore on its original investment, as per the RHP. Ahead of the listing, Smartworks raised Rs 174 crore (around $20 million) from anchor investors including Tata Mutual Fund, Aditya Birla Sun Life, Axis Mutual Fund, and SBI General Insurance. Post listing, Smartworks was trading at Rs 457.9 9 (as on 11.15AM) with a market capitalisation of Rs 5,221 crore (approximately $614 million). In FY25, the company reported Rs 1,374 crore in operating revenue, up from Rs 1,039 crore in FY24. However, its losses widened to Rs 62 crore in FY25 from Rs 50 crore in the previous fiscal ended March 2024. Smartworks competes with Awfis, which went public in May 2024 and currently trades at Rs 649.4. Awfis posted Rs 1,208 crore in revenue and Rs 68 crore in net profit in FY25. Another peer, WeWork India, has also received SEBI’s nod for its upcoming IPO.
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Paytm shares crash over 42% in 3 days; investors lose Rs 20,500 crore
Economic Times
·
1y ago
Medial
Shares of Paytm, the troubled fintech company, fell another 10% on Monday, reaching its lower circuit limit on the stock exchange. This comes as the regulatory crisis surrounding the company deepens, with fresh allegations of money laundering and an investigation by the Directorate of Enforcement (ED) emerging. Paytm has lost 42.4% of its value in the last three trading sessions, and stock exchanges have reduced the lower circuit limit to 10%. Paytm Payments Bank is also facing an existential crisis following a ban imposed by the Reserve Bank of India (RBI).
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