India’s Paytm considers buying back shares following a rough year • TechCrunch

[ad_1]

Indian financial services firm Paytm said Thursday evening it is considering repurchasing its shares, following a tremulous year that has seen its stock price fall by over 60%.

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.

Buybacks are not uncommon and are generally seen as a way companies could reward their shareholders. Many firms have ramped up repurchasing their shares this year, taking advantage of the falling prices in the public markets globally.

The move is especially notable for Paytm, whose shares have fallen over 65% since listing late last year and have never recovered to touch the issue price of $25.2. Its shares ended Thursday at $6.2.

(More to follow)

[ad_2]
#Indias #Paytm #considers #buying #shares #rough #year #TechCrunch

mrB

Related Posts

Marvel’s Blade Movie Delayed by Writer’s Strike

[ad_1] Marvel’s vampire hunter Blade is a fierce warrior but he may have finally met his match: labor unions. The upcoming, long-in-development reboot of the Marvel franchise…

How to Watch the Coronation of King Charles III Live

[ad_1] King Charles III officially shed his princedom when Queen Elizabeth II died, and the British royal’s new position will be formalized on May 6 in a coronation…

‘Quordle’ today: See each ‘Quordle’ answer and hints for May 6

[ad_1] If Quordle is a little too challenging today, you’ve come to the right place for hints. There aren’t just hints here, but the whole Quordle solution….

How to use a passkey instead of a password to sign into your Google account

[ad_1] Passwords have always been a necessary evil, giving you the choice of either using one that is too simple (so you can easily remember it) or…

Amazon quietly acquired audio content discovery engine Snackable AI to boost its podcast projects

[ad_1] Amazon quietly acquired New York-based audio content discovery engine Snackable AI last December to boost its podcast features, as first reported by New York Post. The…

Warhammer 40K’s New Tyranid Screamer-Killer Is a Great Update

[ad_1] A new edition of Warhammer 40K means new models—and for some of the 40-year-old wargaming franchise’s creatures and characters, that means updates they’ve not had in…

Leave a Reply

Your email address will not be published. Required fields are marked *