If you are an IPO investor in Paytm and still holding on well there is more pain headed your way as per brokerage Macquarie the stock could crumble all the way Rs 450/share making it an 80% drop from it's issue price.
Macquarie that has been bearish India's largest IPO to date by maintaining an underperform has slashed the price to Rs 450 from Rs 700.
Paytm has seen a host of downgrades by brokerages after RBI banned onboarding of new custombers by Payments Bank arm. The stock is currently trading at an all-time low.