The BSE has sought a clarification from One 97 Communications, the parent firm of payments solution company Paytm, over the sharp fall in its share prices.
"The exchange has sought clarification from One 97 Communications on March 22, 2022 with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded," BSE said, adding that "the reply is awaited".
One 97 Communications shares closed at Rs 543.90 on the BSE, down 3.8 percent on March 22 and so far corrected 74.7 percent from its issue price of Rs 2,150 per share. On listing day itself, November 18, 2021, it settled lower by 27 percent.
BSE asking for clarification is not common. The exchange has not specified what the "significant movement" is even as the stock has come to a fourth of the IPO price.