Indian fintech posterchild One97 Communications , widely known as Paytm, has taken another drubbing from investors. Some 75% of its public institutional owners voted against the pay packages of founder, chairman and Chief Executive Vijay Shekhar Sharma and as well as finance chief Madhur Deora.
and Sharma himself, and virtually all of them toed the company line. The mini-revolt followed unusually bold recommendations by several Indian shareholder advisory groups led by IiAS, which found Sharma’s overall renumeration was higher than all other bosses of companies in the S&P BSE Sensex index, most of which are profitable.
But the count means Paytm is under pressure on multiple fronts. It’s losing even more money since its spectacularly poor debut in November. Its shares are now some 64% below the offer price. Walmart’s unlisted PhonePe is providing stiff competition, and the Reserve Bank of India keeps tightening rules making it harder for payment companies to turn a profit. Sharma will really feel the heat as and when his friendly backers start to cash out. Capital Calls - More concise insights on global finance:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ola Electric to hit UK in 2025 with 310-mile EV | AutocarIndian start-up Ola Electric will launch its first electric car in the UK by 2025, with a 310-mile range and a 4.0sec 0-62mph time
Read more »
Indian Head park opens in memory of RCMP Const. Shelby PattonA ceremony was held in Indian Head on Saturday to officially open a park in memory of RCMP Const. Shelby Patton, who died on duty.
Read more »
Vandals smash Gandhi statue in front of Queens Hindu templeThe NYPD is hunting for six men they say destroyed a statue of famed Indian leader Mahatma Gandhi outside a Hindu temple in Queens on Tuesday morning.
Read more »
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors – Regulation Bitcoin NewsThe Indian police have launched an investigation into Bitconnect and booked its founder after an investor reported being defrauded by the global crypto 'Ponzi scheme.' cryptocurrency bitcoin $BTC
Read more »
Opinion | Tribal Nations Are Under Threat as Native Families' Right to Stay Together Is at Stake at the Supreme Court'The Indian Child Welfare Act—a law that protects Native children from forced removal from their families, tribes, and culture—is currently under attack.'
Read more »
Star Scientific Says Its HERO Technology Can Power The World (With Video)HERO from Star Scientific uses a proprietary catalyst to turn green hydrogen and oxygen into a heat source that rivals burning fossil fuels.
Read more »