Paytm announces Open market Buyback share worth Rs 850 crore at 810₹ per share.

One 97 Communications (Paytm) will undertake a Open market buyback of shares up to ₹850 crore at a maximum price of ₹810 per share.

The company also said that buyback will take place in the open market through the stock exchange mechanism but has committed to utilizing at least 50% of the amount earmarked, or Rs 425 crore. Based on the minimum buyback size and maximum buyback price, the company would purchase a minimum of 5,246,913 equity shares, it said in an exchange filing.

You can check the announcement here https://www.bseindia.com/xml-data/corpfiling/AttachLive/ab713ee7-add3-4331-bcec-3cde19540eb6.pdf

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