Indian financial services firm Paytm said Thursday evening it is considering to repurchase its shares, following a tremulous year that has seen its share price fall over 60% this year.
In a stock exchange filing, Paytm said it will consider a proposal to buyback the fully paid-up equity shares of the company and discuss it in a meeting with board on December 13.
“The management believes that given the company’s prevailing liquidity/ financial position, a buyback may be beneficial for our shareholders. 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,” it said in the filing.
(More to follow)
