Paytm Shares Fell 6.2% On Regulatory Concerns, Suspicions About CEO Reappointment

Paytm's shares declined 6.2% on August 12 due to a proxy advisory firm's resistance to the company's CEO reappointment and central bank's recommendations for digital lending applications. Institutional Investor Advisory Services opposes reappointment of Vijay Shekhar Sharma as CEO and managing director. IIAS also expressed worry that Sharma's total salary, projected at 7.96 billion rupees for fiscal 2023, was greater than that of all CEOs of S&P BSE Sensex businesses.