CosmicTaco

Paytm Shares Surge 15% as CEO Reiterates Focus on Consumer Payments

CosmicTaco · 2024-10-08T21:07:41.718555+05:30

- Paytm's shares rose by 15.65%, ending Tuesday's trading session at INR 753.60, boosting its market capitalisation to $5.71 Bn. - CEO Vijay Shekhar Sharma announced plans to reinvest in the consumer payments business, following a significant loss of consumer base. - The company recently allotted 93,284 equity shares to employees under ESOP programmes. - Despite the recent surge, Paytm's shares are still trading over 60% lower than its listing price of INR 1,950. - Sharma expressed regret over his choice of investment bankers for the company's IPO. Source: [Inc42](https://inc42.com/buzz/paytm-zooms-over-15-after-vijay-shekhar-sharma-reiterates-focus-on-consumer-payments/)

Paytm's shares rose by 15.65%, ending Tuesday's trading session at INR 753.60, boosting its market capitalisation to $5.71 Bn.
CEO Vijay Shekhar Sharma announced plans to reinvest in the consumer payments business, following a significant loss of consumer base.
The company recently allotted 93,284 equity shares to employees under ESOP programmes.
Despite the recent surge, Paytm's shares are still trading over 60% lower than its listing price of INR 1,950.
Sharma expressed regret over his choice of investment bankers for the company's IPO.

Source: Inc42