Paytm parent One97 Communications' shares fell around three percent on Wednesday to yet another record low, sliding below the Rs 1,100 mark for the first time. Paytm shares fell as much as 3.1 percent to an all-time low of Rs 1,084.6 on BSE. At the fresh low, the stock was available at a discount of nearly 50 percent to the issue price of Rs 2,150.

Share Market Live

NSE

At 9:43 am, One97 shares were at Rs 1,092.4 on the bourse, down 2.4 percent compared with its previous close.

In trouble for Paytm investors, the stock has hit a series of lows this week following a 25 percent reduction in its target price by Macquarie this week. The brokerage retained its 'underperform' rating on Paytm but lowered its target to Rs 900 from Rs 1,200, and raised its loss projections for the digital payments company by 16-27 percent for FY22-25.

The weakness in the stock comes even as Paytm reported a four-fold jump in loan disbursals in the December quarter. On Monday, Paytm said it disbursed 44 lakh loans worth Rs 2,180 crore in Q3, as against 8.8 lakh loans worth Rs 470 crore in the corresponding period a year ago. Its gross merchandise value (GMV) came in at Rs 2.5 lakh crore as against Rs 1.12 lakh crore in the year-ago period.

Paytm shares made its Dalal Street debut at a discount of nine percent to the issue price in November. The IPO, which was the biggest of all time in India, saw a total subscription of 1.9 times the shares on offer, which was relatively lukewarm given the robust response enjoyed by most IPOs in recent times.

For the second quarter of FY22, One97 Communications reported an 8.5 percent year-on-year increase in the net loss to Rs 473 crore. Its revenue from operations, however, increased 63.6 percent to Rs 1,086.4 crore.

Also, catch live updates from the stock market with CNBC-TV18.com's blog