Paytm share

Paytm Stock Plummets: Investors Lose Billions as Regulators Crack Down

Discover the rollercoaster ride of Paytm shares with a 43% crash in 3 days. Find out why India is investigating the digital payments giant and the top mutual fund schemes impacted by the turmoil.

Paytm, the Indian digital payment behemoth, faced a tumultuous week as its stock plummeted by a staggering 43% in just three days. Investors were left reeling as the stock dipped by 10%, closing at 438.35 per share after a sharp decline from 487.05. As the market value tanked by a whopping Rs 20500 crore, speculations about regulatory woes and foreign exchange law violations sent shockwaves through the industry.

The investigation into Paytm by India's anti-fraud agency further escalated concerns, with $2.5 billion wiped off shares in mere days. Mirae Asset Large Cap Fund had a significant stake in Paytm at Rs 430.4 crore, representing 1.13% of its total AUM, signaling the gravity of the situation for mutual fund investors.

Despite the turmoil, Ashneer Grover's 2022 post advocating to buy Paytm echoed hollow as market forces wiped out over Rs 20471.25 crore from the company's market valuation. The repeated freefall of Paytm shares sparked worries among investors and market players, fearing the regulatory actions by RBI could severely impact Paytm's operations and profitability.

In a series of unfortunate events, Paytm shares continued their downward spiral, witnessing a 10% decline in its market valuation. The parent company, One97 Communications Ltd, bore the brunt of this financial rollercoaster, leaving the digital payment landscape in upheaval.

**Interesting Facts About Key Players: 1. Ashneer Grover, former Paytm executive, faced scrutiny following the financial downturn. 2. Mirae Asset Large Cap Fund emerged as a pivotal player with a substantial investment in Paytm, battling the market turmoils head-on.