One97 Communications, the parent company of Paytm, confirmed that it has not received any new notice from the Securities and Exchange Board of India (SEBI) and has addressed the matter in its latest financial disclosures. Paytm stated that it is in regular communication with SEBI and has made the necessary representations regarding the notice it received during the quarter ending March 2024.
In response to media reports suggesting that SEBI issued new show-cause notices to Paytm Founder and CEO Vijay Shekhar Sharma and former board members over alleged misrepresentation during the company’s 2021 IPO, Paytm clarified that it is seeking further information from SEBI. The company emphasised that it believes it is compliant with relevant regulations, based on an independent legal opinion.
Paytm’s stock experienced a decline, closing 4.48% lower at ₹530 apiece, following the reports. Despite the market reaction, Paytm reiterated that there is no impact on its financial results for the quarters ended June 30, 2024, and March 31, 2024.
