Home Business News Paytm completes share buyback value Rs 850 crore

Paytm completes share buyback value Rs 850 crore

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Paytm completes share buyback value Rs 850 crore

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Digital monetary providers agency One97 Commuications, which operates below the Paytm model, on Tuesday mentioned it has accomplished the buyback of shares value Rs 849.83 crore at a median value of Rs 545.93 per share. The corporate purchased again shares within the value vary of Rs 702.65 to Rs 480.25 apiece, based on a regulatory submitting.

“The corporate purchased again an combination of 1,55,66,746 fairness shares utilising a complete quantity of Rs 849,83,39,982, which represents 99.98 per cent of the utmost buy-back measurement. The value at which fairness shares have been bough again was depending on the worth quoted on the inventory exchanges,” the corporate mentioned.

The Paytm board had permitted buyback of shares value Rs 850 crore on December 13, representing 6.67 per cent of the whole paid-up share capital between December 21, 2022 to February 13.

In the course of the buyback interval, Chinese language e-commerce main Alibaba offered its total direct stake within the firm in two tranches.

Nevertheless, the corporate’s group agency Ant Monetary continues to carry round 25 per cent stake in Paytm and stays the largest shareholder of the digital monetary providers agency. 

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