Paytm share price plunged over 8% on Friday after a report said that the company and seven other payment gateways have come under the Enforcement Directorate (ED) scanner for alleged involvement in a cryptocurrency scam. Paytm shares declined as much as 8.84% to ₹773.90 apiece on the BSE.
One 97 Communications, the parent company of fintech giant Paytm, is among eight payment gateways that are under ED investigation in connection with a ₹2,200 crore raised across 20 states and linked to 10 Chinese nationals in a cryptocurrency scam, Times of India reported.
At 10:40 AM, Paytm shares were trading 2.28% lower at ₹829.60 apiece on the BSE.