Why did the Shares of Paytm Come Down Sharply on March 22, the Company Gave this Information to BSE; Check Details

Why did the Shares of Paytm Come Down Sharply on March 22, the Company Gave this Information to BSE; Check Details 

An unexpected drop was seen in the share price of Paytm on 22 March 2022. On this, BSE has sought a response from its parent company One 97 Communications Limited. In this regard, the company says that it is following all the rules of Sebi. Under this, Company keeps updating the BSE from time to time about the latest situation to protect the interests of investors.

The company gives every information to the stock market

Paytm said in its statement that it is fully complying with SEBI's Regulation 30 (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations). The company periodically shares the latest information with the stock market. There was no such information as on 22 March, which would have affected the prices.

Company's Growth will be Strong

Paytm stated that according to the data given on 4 February, the company's growth is strong. After listing, the company is following all the rules and will continue to do so in future as well.

Shares fell 3.8% to Rs 543.90 on BSE

On Tuesday, Paytm shares fell 3.8% to Rs 543.90 on the BSE. The decline was 75% from its issue price of Rs 2,150 per share. Paytm said the company has made all necessary disclosures to the stock exchanges within the stipulated time frame.

Question on Paytm Payments Bank

Paytm said on March 12 that the RBI has barred Paytm Payments Bank from adding new customers until a comprehensive audit of its information technology system is conducted. The Bank is taking immediate steps to comply with the directions of RBI, including appointment of an auditor to conduct a comprehensive system audit of its IT systems.