New Delhi: Shark Tank-fame and BharatPe co-founder Ashneer Grover said that Paytm is a screaming buy at the current price of about Rs 600. Paytm stock had closed today’s (March 17), trading session at Rs 594.25, sliding 6.28% from yesterday’s rate. 


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Grover said that Paytm is currently valued at $7 billion, and the company has raised $4.6 billion. The cash in hand of the company should be $1.5 billion, he noted.


So, at a current market price of Rs 600, the market is saying the value created is $5.5 billion, he said. “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 said in a tweet. 



However, Twitter users seemed pretty reluctant to follow the advice of the entrepreneur who has recently exited the fintech company following an episode of controversies with other the board and investors. 


A Twitter user posted a meme saying “Abhi toh aur girega”, suggesting that Paytm stock will further nosedive.



“Spending X is not sufficient enough justification to claim X+Y valuation. Market needs to see the value created by that spend. Unfortunately in this case that proof is missing,” another Twitter user said. Also Read: Mutual fund account to get closed if invested via Paisabazaar? Know the truth



Moreover, earlier in the day, Macquarie’s Suresh Ganapathy further cut his expected price to 450 rupees from 700 rupees. He cited lower valuations for fintech companies globally as the reason behind the cut. However, he didn’t change his earnings or revenue estimates for the fintech company. Also Read: I-T dept has made highest tax collection in its history: CBDT Chairman



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