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BW Businessworld

Paytm Board To Consider Share Buyback

The company’s board of directors is scheduled to meet on 13 December to consider the proposal

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Paytm on Thursday said it was considering a proposal for buyback of the fully paid-up equity shares of the Company, in accordance with the applicable provision under the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 (as amended), and other applicable laws.  

The company’s board of directors is scheduled to meet on 13 December to consider the proposal. 

“The management believes that given the Company’s prevailing liquidity/ financial position, a buyback may be beneficial for our shareholders,” said Paytm in a BSE filing.

The outcome of the Board meeting will be disseminated to the stock exchanges after conclusion of the Board meeting on December 13, 2022, in accordance with the applicable provisions of the SEBI Listing Regulations.

Paytm had said that it expects to become cash flow positive in the next 12-18 months during a recent analyst meeting.

The company’s stock closed at Rs 508.40 on Thursday, down 0.28 per cent from Wednesday closing time at BSE.



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