Paytm shares fall 9% on reports of SEBI show-cause notices to CEO Vijay Shekhar Sharma, board members

Paytm share price fell nearly 9% on Monday after a report stated that the capital markets regulator Securities and Exchange Board of India (Sebi) has issued show-cause notices to Paytm CEO Vijay Shekhar Sharma and its board members. Paytm shares plunged as much as 8.8% to ₹505.25 apiece on the BSE.

Sebi has issued a show cause notice to Sharma and Paytm board members who served during its initial public offering (IPO) in November 2021 for alleged misrepresentation of facts , a report by Moneycontrol said.