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Digital payments major, Paytm had a rather disappointing stock market debut on Thursday. One 97 Communications Ltd, Paytm’s parent company, listed at around 9% discount at 1,955 against its issue price of 2,150 on the BSE and National Stock Exchange (NSE) and clocked as much as 27% loss during afternoon trading.

That’s not all. Paytm’s share touched the lower circuit, the minimum price to which a stock is allowed to fall, in the second half of the day. As opposed to the $20 billion valuation that Paytm was aiming for, its current valuation stands significantly lower at around $16 billion.

Looking at IPOs of companies with issue size above 1,000 crore in the last 10 years, Paytm’s IPO, country’s largest ever, saw the biggest crash on the listing day with a margin of nearly 10% from the next worst performer.

Looking at IPOs of companies with issue size above  <span class='webrupee'>₹</span>1,000 crore in the last 10 years.
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Looking at IPOs of companies with issue size above 1,000 crore in the last 10 years.

In November 2015, Cafe Coffee Day’s parent company Coffee Day Enterprises’ stock had shrunk over 17% from its issue price on its listing day. In 2008, Reliance Power too started its stock market journey with a nearly 17% fall from its issue price of 10,123.

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