The Securities and Exchange Board of India (Sebi) plans to question the investment banks that handled Paytm’s initial public offering (IPO), the country’s largest ever, over the listing debacle.
The capital markets regulator will seek their views on why the stock tanked on the listing day. It also plans to examine if any comments made by the company officials or the bankers could have misled investors, said two people in the know.
Shares of Paytm plunged 27 per cent during their trading debut on Thursday, wiping out Rs 38,000 crore of the firm’s market value. This was the worst first