Paytm shares rebound 10% after 2 days of losses

Paytm parent  One97 Communications's shares rose 10 percent on Tuesday, rebounding after two days of losses following a weak debut on Dalal Street. Currently, the Paytm stock is available at a discount of 30.5 percent to its issue price.

Paytm shares ended 9.9 percent higher at Rs 1,495 apiece on BSE, in a sigh of relief for investors following a fall of 36.7 percent in the past two sessions. On NSE, the stock ended with a gain of 9.6 percent at Rs 1,489.8 apiece.

Last week, One97 Communications shares made a weak market debut in the secondary market before ending the day at a discount 27 percent to its issue price of Rs 2,150.

Ant Group-backed Paytm's Rs 18,300 crore IPO -- the biggest initial share sale of all time in India surpassing the likes of Coal India, Reliance Power and GIC -- was subscribed 1.9 times the total shares on offer. Prior to the launch of Paytm's mega IPO, state-run miner Coal India's Rs 15,000-crore public offer a decade ago was the largest in the country.

Incorporated in 2000, One97 Communications is India's leading digital ecosystem for consumers and merchants.