Friday, 24 March, 2023

Foreign brokerage firm Macquarie gives underperforming rating Paytm's IPO

<p>Paytm&#39;s market value plummeted by 23% or by Rs 32,000 Cr, from Rs 1.39 lakh Cr to Rs 1.07 lakh Cr.&nbsp; At its prevailing price, the stock commanded a market cap between Zomato (Rs 1.22 lakh Cr) and Nykaa (Rs 1.01 lakh Cr). Foreign brokerage Macquarie gave Paytm underperform rating and a target of Rs 1,200 compared with the issue price of Rs 2,150. Macquarie suggested a 44% potential downside.<br /> &nbsp;</p>