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Paytm shares dive 27% after completing India's largest IPO

Stock plunge on debut causes headache for its backer SoftBank

A customer uses Paytm at a restaurant in New Delhi. (Photo by Kosaku Mimura)

BENGALURU/TOKYO -- Shares in Indian digital payments startup Paytm made an underwhelming debut on the local stock exchange on Thursday, plunging 27% from their issue price.

The shares closed at 1,560.80 rupees apiece, down sharply from their issue price of 2,150 rupees. At its lowest point during the day, the stock hit 1,560.

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