Paytm shares fall over 8% after SEBI showcause notice for Vijay Shekhar Sharma over IPO breaches

Shares of One97 Communications, the parent company of payments aggregator Paytm, plummeted by up to 8% on Monday following a report by Moneycontrol that highlighted new regulatory challenges facing the company. As a result of these developments, Paytm shares are trading 8% lower at Rs 512.25 on NSE.

What Does The Report Says

According to the report, the Securities and Exchange Board of India (SEBI) has issued show-cause notices to Paytm founder Vijay Shekhar Sharma and several board members who were in office during the company’s Initial Public Offering (IPO) in November 2021.