Paytm IPO Investors Lose $900 Million in Two Days

Shares in the owner of Indian financial technology giant Paytm tumbled for a second day, with the declines inflicting about $900 million in losses on investors that bought into the much-hyped initial public offering this month.

The stock of Paytm’s parent One97 Communications Ltd. closed Monday nearly 37% below its IPO price after suffering through more heavy selling pressure.