Vijay Shekhar Sharma's chair saved, Paytm shareholders expressed confidence, became CEO again for 5 years
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There has been a huge decline in the share prices of Paytm these days.
Paytm: The chair of Paytm founder and CEO Vijay Shekhar Sharma has survived. The shareholders have once again reposed faith in him. In the Annual General Meeting of Paytm, it was decided that Sharma would continue as CEO for the next five years. Digital payments platform Paytm operator One 97 Communications Ltd said that 99.67 percent of its shareholders voted in favor of Shekhar. That is, now Vijay Shekhar will remain the CEO of the company till December 2027.
The falling share prices of Paytm increased the concern: It is worth noting that there has been a huge decline in the share prices of Paytm these days. Shareholders started questioning Vijay Shekhar's continuance as CEO amid the continuing decline. In such a situation, it was expected that the shareholders of the company can take a big decision in the annual conference of Paytm. But on the other hand, shareholders have once again expressed confidence in Shekhar.
We have no interference on the share price of Paytm- Vijay Shekhar: Let us tell you, Vijay Shekhar Sharma, Managing Director and Chief Executive Officer of One 97 Communications Limited, the operating firm of the digital payment platform Paytm, said on Friday that the company is on the price of shares. Doesn't interfere in any way. However, he also said that the management is trying to make the company profitable. Vijay Shekhar Sharma said this to the shareholders at the 22nd Annual General Meeting (AGM) of the company. He said that till the financial year 2018-19, the company was engaged in the campaign of expansion.
Shares of Paytm are falling: It is worth mentioning that during the period when Paytm launched its shares, its price band was fixed from 2080 to 2150 rupees. But gradually its share value declined. On the day Paytm was listed, its stock fell 27 percent and closed at Rs 1564. At present, the price of one share of Paytm is Rs 772.10. The stock of Paytm is trading down 60 per cent from its all-time high. Paytm had set a record low of Rs 510 on May 2022.
