On Monday, shares of One 97 Communications, the parent company of Paytm, experienced a 5% decline, reaching a day s low of Rs 351.70. This drop followed the company s disclosure to the exchanges regarding the resignation of Bhavesh Gupta, who served as the Chief Operating Officer (COO) and President of Paytm.
Paytm s chief operating officer and president Bhavesh Gupta resigned on Saturday in yet another top-deck exit at the fintech company. The Noida-headquartered firm also announced changes in its leadership structure. Paytm Money CEO Varun Sridhar will be replaced by Rakesh Singh.