On December 13, the Paytm board will decide on a share repurchase.

 

The parent company of Vijay Shekhar Sharma-backed Paytm, One 97 Communications Limited, informed the markets on December 8 that a board meeting would be held on December 13 to discuss a proposal for a share buyback.

We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, December 13, 2022 to consider a proposal for the buyback of the fully paid-up equity shares of the Company, in accordance with the applicable provision under the Companies Act, 2013. This meeting will be held pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations").

"The management thinks that a repurchase could be advantageous for our shareholders given the Company's current liquidity/financial condition. Following the Board meeting on December 13, 2022, the results will be announced to the stock exchanges in accordance with the relevant SEBI Listing Regulations, it was noted in the announcement.