Paytm cannot use the proceeds of its IPO to fund its proposed share buyback plan

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Paytm cannot use the proceeds of its IPO to fund its proposed share buyback plan

One97 Communications Ltd, the parent company of fintech behemoth Paytm, may be unable to use the proceeds of its mega IPO to fund the proposed share buyback plan.

According to sources, the fintech firm cannot use the proceeds because rules prohibit such a move. Paytm will instead use its liquidity for this purpose. The company announced last week that its board of directors will meet on December 13 to consider a share buyback proposal. There has been speculation that the company is using its IPO funds for the buyback, which is against regulations.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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One97 Communications Ltd, the parent company of fintech behemoth Paytm, may be unable to use the proceeds of its mega IPO to fund the proposed share buyback plan.

According to sources, the fintech firm cannot use the proceeds because rules prohibit such a move. Paytm will instead use its liquidity for this purpose. The company announced last week that its board of directors will meet on December 13 to consider a share buyback proposal. There has been speculation that the company is using its IPO funds for the buyback, which is against regulations.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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