Paytm board to consider buyback in Dec 13 meet | The Financial Express

Paytm board to consider buyback in Dec 13 meet

The board will take up the matter in a meeting on December 13, it said.

Paytm board to consider buyback in Dec 13 meet
Further, the outcome of the board meeting will be communicated to the stock exchanges, in accordance with the applicable provisions of the SEBI Listing Regulations, the company stated in the filing.

One97 Communications, the parent entity of Paytm, has said in a filing to the stock exchanges that the company is considering a buyback of the fully paid-up equity shares. The board will take up the matter in a meeting on December 13, it said.

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The management believes that given the prevailing liquidity/financial position of the company, a buyback is likely to benefit shareholders. Further, the outcome of the board meeting will be communicated to the stock exchanges, in accordance with the applicable provisions of the SEBI Listing Regulations, the company stated in the filing.

On Thursday, the Paytm stock closed at Rs 508.25, down 0.32%, on the NSE. Since its initial public offering, Paytm shares have lost over 65% of their value.

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First published on: 09-12-2022 at 06:00 IST