The market value of PDM plummeted with the fall of PDM IPO. Investors lost $ 900 million in two days. Vijay Sharer Sharma’s fortunes plummeted. PDM was valued at over $ 1 trillion and is now even lower. Shares of P97 parent company One97 Communications are down sharply due to sluggish sales.
Prior to the IPO, Vijay Sekhar Sharma’s stake in the company was valued at $ 2.3 billion. Founded in 2000, Sharma owns 9.1% of PDM. It is estimated that it holds about 60 million shares. Shares of PDM fell 12.70 per cent today. With a market cap of over Rs 50,000 crore, PDM has lost about 36.27 per cent in the last two sessions.
Uncertainty in the company’s trading model and the assessment that it will affect the company’s profitability at a loss reflected in the stock. The failure of the largest IPO in the history of India has disappointed investors as well. Paytm’s monthly users increased by 35% in October 2021 to 63 million. As of October 2020, there were 47 million monthly users. The average monthly active user for the quarter ending September 30 this year was 57 million.