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Paytm responds after BSE seeks clarification over 'significant' movement in share price

1 min read Livemint 23 Mar 2022, 08:50 AM IST

BSE on Wednesday had sought clarification from One 97 Communications Ltd on the steep fall in the company’s shares.

Paytm Money that kicked off its mutual fund business with a new application claims to have partnered with 30 asset management companies. Photo: Bloomberg

One97 Communications (Paytm) on Wednesday said its business fundamentals remain robust and it has no information that may have a bearing on the price-volume behavior in the share price and which is yet not disclosed to the stock exchanges.

Paytm further added that the company has made all necessary disclosures to stock exchanges within the stipulated timeline.

BSE on Wednesday had sought clarification from One 97 Communications Ltd, which runs the Paytm payments service, on the steep fall in the company’s shares.

The exchange said it has sought clarification from “One 97 Communications Ltd on 22 March 2022 with reference to the significant movement in price, in order to ensure that investors have the latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded".

On Tuesday, Paytm shares fell 3.8% to ₹543.90 on BSE and have declined 75% from its issue price of ₹2,150 per share.