New Delhi, November 22: Shares of newly-listed One97 Communications, Paytm's parent company, continued to decline for the second day in a row on Monday, tumbling nearly 14 per cent.

The counter continued to bear a deserted look as the stock declined 13.66 per cent to Rs 1,350.35 on BSE. Also Read | Google Messages App on Android Devices May Soon Translate iMessage Reactions As Emoji: Report.

On NSE, it tumbled 13.39 per cent to Rs 1,351.75. Shares of One97 Communications Ltd on Thursday made a weak market debut and tumbled over 27 per cent from the issue price of Rs 2,150. Also Read | Google Pixel 6a Leaked Renders Reveal Pixel 6-Like Camera Module & Punch-Hole Display.

According to market analysts, concerns over valuation weighed on the stock. Ant Group-backed Paytm's Rs 18,300 crore IPO, India's biggest share sale, was oversubscribed 1.89 times earlier this month.

This was greater than miner Coal India's Rs 15,000 crore offer a decade back. Incorporated in 2000, One97 Communications is India's leading digital ecosystem for consumers and merchants.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)