Paytm’s founder and CEO Vijay Shekhar Sharma may be chaired, today’s important meeting of the board
Paytm: today is friday Paytm and founder of CEO Vijay Shekhar Sharma It’s going to be very important. In the shareholder meeting going to be held today, it is to be decided whether Shekhar will lead Paytm or some other person will be given this responsibility.
Paytm parent company of One97 Communications A virtual annual general meeting is being held today. Recently, when Paytm’s stock had seen a fall, questions started being raised about Shekhar’s continuation as CEO. In this meeting, a proposal is to be placed for Vijay Share Sharma to continue as the CEO and MD of Paytm.
Falling shares of Paytm is the main reason for this
When Paytm launched its share, its price band was fixed at Rs 2080-2150. Since then the stock started declining gradually. The stock of Paytm fell to Rs 1955 on 18 November. Let us tell you, on the day of listing, it fell 27 percent and closed at Rs 1564. At present, the price of one share of Paytm has gone up to Rs 772. That is, there has been a total decline of about 64 percent. The maximum price of the share after launch is Rs 1955 and the 1-year low price is Rs 510.
Questions have also been raised on Paytm’s business model
Questions have been raised many times regarding the business model of Paytm. Senior banker Aditya Puri questioned the business model of financial services company Paytm, saying that the company has garnered customers by giving ‘cashback’ and not through services. There is a decline in the stock of Paytm, due to which the investors have suffered heavy losses.
Puri led the private sector HDFC Bank from its inception and made it the largest bank in the sector till his retirement in the year 2020. He questioned Paytm’s business model and wondered where is the profit if the company manages so many payments? Puri’s remarks came amid a sharp fall in Paytm shares, which are now 75 per cent below the price at which investors bought them in the initial public offering (IPO).
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