Paytm board okays share buyback worth Rs 850 crore at Rs 810 per share

The board of One97 Communications, the parent company of Paytm, on Tuesday, allowed buyback of shares worth Rs 850 crore.  The company would undertake the buyback exercise at a maximum price of Rs 810 per share, nearly a 50 per cent premium to Tuesday’s closing price. 

Assuming a full buyback of Rs 850 crore and applicable buyback taxes, the total outlay would be in excess of approximately Rs 1,048 crore. 

The company in a statement said that until the completion of the buyback period, the company’s directors and key management personnel -- Vijay Shekhar Sharma (founder & CEO) and Madhur