Merchant bankers under suspicion over paytm scam
Merchant banker likely to be questioned by SEBI MUMBAI: Shares of Paytm, the largest IPO company in the history of the Indian stock market, have plunged into a 3% slump on the first day of listing. The high valuation of the company by the merchant banker has come under suspicion in this case and the possibility of his being questioned by SEBI has been expressed. It may be noted that on the day of listing, Paytm's stock plunged by 4%, causing a loss of Rs 2,000 crore to investors. Informed sources said that whether the statements made by the company officials and bankers were misleading or misleading to the investors could be investigated. SEBI has written to the Association of Investment Bankers of India (AIBI), an association of merchant bankers, in this regard. According to the latest information, SEBI has asked merchant bankers to provide details of the average price of acquisition of shares and risk for investors in the offer for sale (OFS) in the price band announcement. ...