SEBI issues show-cause notices to Paytm founder Vijay Shekhar Sharma and board members for alleged misrepresentation during the company's IPO.

SEBI issues show-cause notices to Paytm founder Vijay Shekhar Sharma and board members for alleged misrepresentation of facts and non-compliance with promoter classification norms during the company's November 2021 IPO. Sharma's classification as a promoter rather than an employee is at the heart of the issue, as it could have impacted his eligibility for employee stock options (ESOPs) after the IPO.

August 26, 2024
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