Shares of One97 Communications, parent of fintech Paytm, tumbled as much as 8% in early trade on Monday, 27 April, after the Reserve Bank of India (RBI) cancelled the license of Paytm Payments Bank Ltd, more than two years after restricting its core business activities.

Paytm share price hit the day’s low of ₹1055.25 on the BSE, erasing over ₹5,000 crore from investor wealth as its market capitalisation tumbled below ₹68,000 crore today as against Friday’s close of ₹73,427 crore.

(This is a developing story. Check back for updates.)