Shares of Paytm parent One 97 Communications crashed 10% on Thursday, pushing its market capitalisation below the Rs 1 lakh crore mark, while Mobikwik and Pine Labs fell up to 8% amid reports of a possible delay in the introduction of the Merchant Discount Rate (MDR).
The sharp selloff in Paytm shares briefly pushed it to the lower circuit of Rs 1,558.80 apiece on Thursday morning, wiping off nearly Rs 10,972 crore from its market capitalisation in just minutes from opening. Mobikwik shares meanwhile plunged over 8% to Rs 234.52 apiece, and Pine Labs shares were down over 4% to Rs 170.21 apiece.
