Paytm has found an unlikely ally. embattled BharatPe co-founder Ashneer Grover surprised everyone on Thursday after he tweeted urging people to "buy" Paytm stocks.
"Paytm stock is a screaming BUY! It’s valued at $7B ; Funds raised itself is $4.6B ; Cash in Hand should be $1.5 B. So at CMP of ₹600, the market is saying value created is $5.5B after having spent $3.1B over last 10 years. That’s less than Bank FD rate. BUY !!" Grover tweeted. The tweet comes after the share prices of Paytm dropped more than 70 per cent from its issue price of Rs 2,150.