Paytm has lost more than 60% of its value since its initial public offering in November
Paytm CEO Vijay Shekhar Sharma, who is facing a crucial test of investor confidence, shared a couple of updates from the company's annual general meeting held virtually this afternoon.
"Har ghar tiranga, har haath Paytm (tricolour at every house, Paytm in every hand)," was what a shareholder said during the key meeting, tweeted Mr Sharma.
The 'Har Ghar Tiranga' campaign was launched by Prime Minister Narendra Modi in July and had given a call to put up national flags at homes. The Culture Ministry had also appealed to people to upload selfies or photographs with 'Tiranga' on the campaign's website.
In another tweet, he said it was "such an energising AGM".
One of the items to be voted on at the meeting was said to be Vijay Shekhar Sharma's role as the chief executive officer.
Paytm, the poster boy for India's tech startups, has lost more than 60 per cent of its value since its high-profile initial public offering in November as it has struggled to convince investors of its earnings potential.
In an interview last month, Mr Sharma, 44, said Paytm is set to become India's first internet company to hit $1 billion in annual revenue and pledged a shift from growth toward profitability.
Shareholders should vote against Mr Sharma's reappointment, and the board must bring in a professional to the role, Institutional Investor Advisory Services India Ltd. said last week. Before listing, Mr Sharma, on several instances, publicly talked about the company turning profitable, and yet it hasn't happened even at an operational level, the firm said.