Paytm, India's leading digital financial services company, has announced a share buyback scheme worth Rs 850 crore at a price of Rs 810 per share. The company, which is operated by One97 Communications, will be repurchasing the shares through the open market route using the stock exchange method. The buyback program is expected to be completed within a maximum period of six months, according to a regulatory filing by the company.
The buyback offer will be open to all eligible shareholders of Paytm, including both institutional and individual investors. Interested shareholders can submit their tenders during the offer period, which will begin on December 20, 2022 and will remain open for a period of 10 days. The final date for the submission of tenders is December 30, 2022.
To participate in the buyback offer, shareholders will need to have a demat account and a trading account with a registered stockbroker. They will also need to have the required funds in their trading account to participate in the offer.
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Once the buyback offer period is over, Paytm will determine the final price at which it will repurchase the shares, based on the number of tenders received and the price offered by the shareholders. The company will then make the necessary arrangements to repurchase the shares and transfer the funds to the shareholders' accounts.
Paytm's buyback offer is an opportunity for shareholders to sell their shares back to the company at a pre-determined price. It is also a sign of the company's commitment to improving its financial position and delivering value to its shareholders.
If you are a shareholder of Paytm and are interested in participating in the buyback offer, you should contact your stockbroker for more information and to submit your tender. The offer is open to all eligible shareholders and is a valuable opportunity to sell your shares back to the company at a pre-determined price.
