Paytm board approves Rs 850-crore share buyback via open market

Company's directors and key management personnel will not sell any shares during the buyback period

Paytm Board on Tuesday unanimously approved buyback of its equity shares from open market. One97 Communications Limited, which owns Paytm announced the buyback size of up to Rs 850 crores, in line with Securities and Exchange Board of India (Sebi) regulations. 

The company further said in the BSE filing that the maximum buyback price would be Rs 810 per share (50 per cent premium to the closing price as on board meeting date). 

The filing said that all directors present voted unanimously in favour of the proposal, including all independent directors. Company’s directors and key management personnel will not sell