Paytm stock takes a dive as Sebi issues show cause notice to chairman Vijay Shekhar Sharma

The shares of One97 Communications, which owns the Paytm brand, were down 4.41 per cent on the Bombay Stock Exchange on Monday amid investor concerns over reports of Sebi issuing show cause notices to chairman Vijay Shekhar Sharma and board members who had served during the company’s IPO in November 2021 for the alleged misrepresentation of facts.

On the BSE, the company scrips were at ₹530.05 a piece, down ₹24.45 over the previous close. During the day, it plunged 8.88 per cent to ₹505.25.