Paytm Stocks, Paytm Share Price Updates, One 97 Communications Shares Updates August 27, 2024: Paytm shares recouped Tuesday from the previous day’s loss on reports of SEBI’s notice to CEO Vijay Shekhar Sharma. The stock on Monday declined about 9%. SEBI issued notice to fintech firm One 97 Communications, which owns the Paytm brand, in the March 2024 quarter on employee stock options given to its MD and CEO Vijay Shekhar Sharma, according to the company filing on Monday. Paytm said the notice is not a new development, and it is in regulatory contact with the market regulator to make required representations.

SEBI issues notice to Paytm on ESOPs given to CEO Sharma; firm says disclosure already made

Market regulator SEBI has issued notice to fintech firm One97 Communications, which owns the Paytm brand, in the March 2024 quarter on employee stock options given to its MD and CEO Vijay Shekhar Sharma, according to the company filing on Monday.

In response to a query from stock exchanges, Paytm said the notice is not a new development, and it is in regulatory contact with the market regulator to make required representations.

According to Paytm’s financial year 2024 annual result filing, it had issued 2.1 crore employee stock options (ESOP) to Sharma in the financial year 2022.

SEBI had issued a show cause notice to Paytm on ESOP issued to Sharma.

Paytm CEO Vijay Sharma.jpg

“This is not a new development, as the Company had already made relevant disclosures on this matter in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024. The Company is in regular communication with the Securities Exchange Board of India (SEBI) and making necessary representations regarding this matter,” Paytm said in response to a stock exchange query.

The disclosure made on May 22 and July 19 said that Paytm has submitted its preliminary response and is in the process of seeking further information from the regulator in this regard.

“Based on an independent legal opinion obtained by the management, it believes that the Company is compliant with the relevant regulations. Accordingly, there is no impact on the financial results for the year ended March 31, 2024,” the filing said.

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ALL UPDATES

  • August 27, 2024 15:43

    Paytm share price closing figures: Paytm shares close 3% higher on Tuesday

    Shares of Paytm closed at ₹546 on the NSE, higher by 2.94%. 

    On the BSE, the stock rose 2.93% to end at ₹545.60.

  • August 27, 2024 15:06

    Paytm share price today live: Paytm stock climbs 3%

    Paytm shares climbed 2.75% on the NSE, trading at ₹545 as at 3.03 pm.

  • August 27, 2024 14:13

    Paytm share price update: Stock rises close to 2%

    Paytm shares trade at ₹539.85 on the NSE, up 1.78% as at 2.10 pm.

  • August 27, 2024 13:19

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  • August 27, 2024 13:05

    Paytm in news today: Paytm Money appoints N V Srinivasan as non-executive independent director: PTI

    ​Fintech firm One97 Communications​, owner of Paytm brand, on Tuesday announced the appointment of Narasinganallore Venkatesh Srinivasan as the non-executive independent director of its wholly-owned subsidiary Paytm Money.

    Srinivasan had earlier chaired the Reserve Bank of India’s Technical Advisory Committee for the fixed income, money markets and derivatives association (FIMMDA). He was a management committee member of the Foreign Exchange Dealers’ Association of India (FEDAI).

    “We have built a strong consumer centric platform over the past few years, keeping governance at the forefront of our efforts. With Srinivasan’s strong understanding of regulations and extensive experience across financial markets, we are committed to further enhancing these aspects,” Paytm Money, CEO and Whole Time Director, Rakesh Singh said.

    Srinivasan has multi-year experience in finance, risk management, capital markets, and banking strategy.

    He was previously the Chief Executive Officer of the Association of Mutual Funds in India (AMFI). Prior to AMFI, he served as the Chief Financial Officer and Executive Director on the Board of Lakshmi Vilas Bank and held senior positions at IDBI Bank for 19 years, including Chief Financial Officer and Executive Director.

    PTI

  • August 27, 2024 13:02

    Paytm stock in focus: Paytm shares rise close to 2%

    Paytm shares traded at ₹538.30 on the NSE, increased by 1.49% as at 1 pm.

    On the BSE, the shares rose 1.57% to trade at ₹538.35.

  • August 27, 2024 12:05

    Paytm stock in focus: Paytm shares were up 1.19%

    Shares of One 97 Communications rose 1.19% on the NSE, trading at ₹536.70 as at 12.03 pm.

  • August 27, 2024 11:01

    Paytm stock price update: Paytm stock was up 1.70%

    Paytm shares were up 1.70% on the NSE, trading at ₹539.40 as at 10.58 am.

  • August 27, 2024 10:41

    Paytm shares declined 9% on Monday: Bloomberg

    Paytm shares fell Monday on news that India’s markets watchdog has sent its founder notices over alleged misrepresentation, a move the fintech pioneer said was not a “new development.”

    The stock dropped as much as 8.9%, the most since February, after Moneycontrol reported that the Securities and Exchange Board of India issued a so-called show cause notice to founder Vijay Shekhar Sharma and some board members who served when the company was going public. 

    Bloomberg

  • August 27, 2024 10:18

    Paytm share price update: Paytm stock rises 2% in early trade

    Paytm shares traded at ₹541.25 on the NSE, up 2.05% as at 10.15 am.

  • August 27, 2024 10:16

    Paytm shares traded at ₹541.10 on the NSE, up 2.02% as at 9.50 am.

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