SEBI’s Show Cause Notices To Paytm’s Vijay Shekhar Sharma & Board Over IPO Breaches; Shares Fall By 8%

Paytm Shares fell by 8% after a report of SEBI's show cause notices to Vijay Shekhar Sharma & Board.

Written by: Anirudha Yerunkar Edited by: Anirudha Yerunkar

Published: August 26, 2024, 3:41 PM IST

Share

Share Article

• Facebook
• WhatsApp
• X
• Email
• Telegram
• Linkedin

https://www.india.com/business/sebis-show-cause-notices-to-paytms-vijay-shekhar-sharma-shares-fall-by-8-7194977/ Copy

The SEBI has issued show-cause notices to Vijay Shekhar Sharma and its board members who served during its IPO in November 2021 for alleged misrepresentation of facts, two people with direct knowledge of the matter told Money Control.

The report claimed that the notices related to Sharma’s alleged non-compliance with promoter classification norms. The probe was initiated based on the inputs from the RBI, which had examined Paytm Payments Bank.

Paytm Shares Fall By 8%

Shares of One97 Communications, the parent company of payments aggregator Paytm, fell by up to 8% today  after a report by Moneycontrol claimed that the SEBI issued notices to the company. Paytm shares are trading 8% lower at Rs 512.25 on NSE.