Vijay Shekhar Sharma Reappointed As Paytm's MD, CEO

Paytm on Saturday re-appointed founder Vijay Shekhar Sharma as its Managing Director and Chief Executive Offer.

As per the company's exchange filing, he has been reappointed to the post for a period of five years with effect from December 19, 2022.

The company also informed that current Chief Financial Officer Madhur Deora, has been appointed as an Additional Director with effect from May 20, 2022 for a period of five years.

The company reported its March quarter results on Friday. Its net loss widened to Rs 761.4 crore compared to Rs 441.8 crore in the same quarter last year. 

It also intimated the board's approval for the proposal to invest Rs 950 crore in Paytm General Insurance (PGIL) in tranches, over a period of 10 years and to hold upfront equity stake of 74 per cent. Post this investment, PGIL will become a subsidiary of the company.