PayTM not lead managed by Kotak: Uday Kotak

After being the highest ever issue on Dalal Street, PayTM's share value plummeted, causing panic amongst retail investors.

One such concerned social entrepreneur and chartered accountant Harshad Mehta, tweeted to Uday Kotak.
He said, "@udaykotak please take responsibility for wrong pricing of #Paytm IPO and reward them to compensate the losses."


Uday Kotak clearing the confusion, responded by asking him to get his facts right. Kotak tweeted, "Mr. Shah please get your facts right. Kotak did not lead manage Paytm. Kotak did lead manage Zomato at issue price 76 (current market price 150), Nykaa at issue price 1125 (current market price 2100)."

PayTM's shares, whose market value was just over Rs 1.39 lakh crore at the issue price, declined 23 per cent (Rs 32,000 crore) by 2 pm on the first day itself to bring the total market value to Rs 1.07 lakh crore.