Mumbai: reserve Bank of IndiaWednesday’s order continues Paytm Payments Bank That is expected to hit the share price of its parent company One97 Communications, which is still 65% below the level at which shares were sold in its IPO two years ago.
Brokers and analysts have taken a bearish stance on the company and one report said the central bank’s decision would lead to the company going out of business. Paytm Payments Bank’. Paytm went public in November 2021 at a price of Rs 2,150 per share, valuing the company at Rs 1.2 lakh crore. The stock closed at Rs 761 on the BSE on Wednesday – i.e. a market capitalization of Rs 48,330 crore. The RBI announcement came after the markets closed on Wednesday.

“The entire scheme of Paytm from the banking perspective will now come to a halt. It will face major issues especially in terms of NCMC (National Common Mobility Card) and Fastag services. The company was working on multiple Fastag projects and all these “There will be a huge impact.” ” said an analyst. Additionally, brand Paytm will also be severely impacted, the analyst said.
“For all practical purposes, the above notifications bring an end to the operations of Paytm Payments Bank. This is a definite negative development,” analysts at the foreign brokerage house wrote. Bernstein,