Paytm shares shed 2% after Paytm Payments Services CEO and MD Nakul Jain resigns
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Shares of One97 Communications-operated Paytm tumbled 1.69% to an intraday low of Rs 767 on the BSE on Tuesday, January 28, after the company announced that the CEO and Managing Director (MD) of Paytm Payments Services (PPSL), Paytm’s wholly owned subsidiary, had resigned from his post. “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that Paytm Payments Services Limited (“PPSL”) our wholly owned material subsidiary company has informed us on January 27, 2025 at 10.50 p.m. (IST) that Mr. Nakul Jain, Managing Director and Chief Executive Officer (CEO) of PPSL, has resigned from his position w.e.f. close of business hours on March 31, 2025 or an earlier mutually agreed date,” Paytm said in its exchange filing. The exchange filing explained that Jain has decided to pursue an entrepreneurial journey, which led to his decision. Followi...