Paytm has been under pressure to turn profitable ever since its dismal listing in November 2021.The stock has declined around 70% and tumbled 60% in 2022.
This is expected to bring cheers among investors. With Chinese shareholding reducing their stake, it will benefit the company in their Foreign Direct Investment (FDI) aspect.
SoftBank had a 17.5% stake in Paytm’s parent One 97 Communications Ltd, as of Sept. 30. The stock is being sold in a range of 555 rupees to 601.45 rupees per share, said the report.
This comes a day after ED carried out search operations across the country under Prevention of Money Laundering Act, in an investigation related to an app-based token named HPZ.
Analysis of 6 major tech IPO launches of 2021 — Zomato, Paytm, Nykaa, Fino Payments Bank, Policy Bazaar and CarTrade Tech — shows investor euphoria could be fading.
Varma resigned on 14 March due to 'personal commitments and other pre-occupations,' Paytm said. Varma also quit from the board of PB Fintech the same day.
RBI statement said action against Paytm Payments Bank based on “material supervisory concerns” & restrictions will continue pending an audit of its information-technology systems.
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SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Since 1815, Nepali Gorkhas have served in Indian & British Armies, as well as in Bihar, Bengal & Assam Police. Since Agnipath scheme came in, no Nepal-domiciled Gorkha has enlisted.
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