Paytm tanks 5% for 2nd day after COO exit

Mumbai: The stock price of One97 Communications, which owns Paytm, fell by 5% for the second straight session and hit the lower circuit of Rs 334 on Tuesday, down nearly 85% from its IPO price. The development came following the resignation of the company's president and chief operating officer Bhavesh Gupta last week.

Gupta's departure is the latest amid a series of top level exits at the Noida-based fintech. Sources told TOI that three more senior executives - Ajay Vikram Singh, chief business officer of user growth and UPI, Bipin Kaul, CBO for offline payments and Sandeepan Kashyap, senior vice president and CBO, consumer payments have put in their papers. Paytm did not comment on the departures.