https://techcrunch.com/2022/01/23/paytm-zomato-nykaa-and-policybazaar-shares-drop-to-record-lows/

Shares of Paytm, Zomato, PolicyBazaar, and Nykaa — four Indian tech startups that went public last year — on Monday tumbled to their record lows since market debuts last year as analysts predict a global market correction amid US investors worrying about the prospect of high interest rates.

Shares of Paytm dropped 6% to as low as ₹902 ($12.10) on Monday, the lowest since its public debut in mid-November. The market cap of mobile payments firm, which made its debut with an issue price of ₹2,150, has shrunk to $7.9 billion, less than half of the $16 billion valuation at which it raised $1 billion in a private financing round in the second half of 2019.