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Uday Kotak Slams Twitter User, Who Blamed Him For Incorrect Pricing Of Paytm IPO

Kotak Mahindra Bank, already issued a clarification after a Twitter user accused him of incorrectly pricing the Paytm IPO.

Photo Credit : Uday Kotak/ Twitter

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Amid the lukewarm response of Paytm IPO, the Chief Executive Officer (CEO) and Managing Director (MD) of Kotak Mahindra Uday Kotak on Monday took to Twitter to clarify that his bank was not the lead manager for IPO. 

Kotak Mahindra Bank, already issued a clarification after a Twitter user accused him of incorrectly pricing the Paytm IPO. 

Harshad Shah, who blamed Uday Kotak for the Paytm stock crash took to Twitter wrote, "Uday Kotak please take responsibility for wrong pricing of Paytm IPO and reward them to compensate for the losses." 




Hence, in his defence, Kotak also took to his Twitter handle and wrote, "Mr Shah please get your facts right," wrote Kotak, in the reply to Shah's tweet. He further stated that Kotak Mahindra Bank was the lead manager for the recent Zomato IPO and Nykaa IPO. Kotak did manage Zomato at issue price 76( current market price 150), Nykaa at issue price 1125(current market price 2100)." 




Paytm shares fell 27.25 per cent or Rs 585.85 to Rs 1,564 on its stock market debut contrasted with the IPO cost of Rs 2,150 on the Bombay Stock Exchange (BSE), prompting a disintegration of financial investors' abundance worth Rs 38,000 crore. The offers additionally slipped 10.35 per cent during early exchanging on Monday to Rs 1,402 against the past close of Rs 1,564.15 on BSE.


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uday kotak twitter Paytm IPO