BSE would buy back up to 45,93,137 shares, representing 3.39 per cent of the total number of equity shares in the total paid-up capital of the company as on 31 March
Paytm Share Buyback: As per a Bombay Stock Exchange (BSE) filing, Paytm’s board will meet on December 13, 2022 and consider a proposal for share buyback.
During the buyback period, Chinese e-commerce major Alibaba sold its entire direct stake in the company in two tranches
The board has also declared an interim dividend of Rs 16.50 per share, an increase of 10 per cent over FY22 interim dividend
Sources said Paytm in all probability will use its pre-IPO cash reserves for the buyback and in the near future, it will start using the generated cash flow for its expansion