SEBI sends show-cause notices to Paytm CEO, directors over IPO irregularities

The Securities and Exchange Board of India (SEBI) has reportedly issued show-cause notices to Paytm Founder and CEO, Vijay Shekhar Sharma, and erstwhile board members of One 97 Communications Ltd (Paytm’s parent company), over alleged misrepresentation of facts during the company’s initial



public offering (IPO) in November 2021.

Paytm shares declined as much as 9 per cent during the intra-day trading and closed 4.48 per cent down at Rs 530 a piece.

The average of 12-month analyst price targets implies a potential downside of 16 per cent.