Institutional Investor Advisory Services (IIAS) has questioned Paytm about its strategy for managing with less cash after the share buyback, which the company plans to propose today in a board meeting.
According to IIAS, Paytm raised INR 8,100 Cr in net IPO proceeds after deducting its existing cash. At the time of the IPO, its growth strategy necessitated funding support in excess of the IPO proceeds. The company announced last week that its board of directors will meet on December 13 to consider a share buyback proposal.
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Institutional Investor Advisory Services (IIAS) has questioned Paytm about its strategy for managing with less cash after the share buyback, which the company plans to propose today in a board meeting.
According to IIAS, Paytm raised INR 8,100 Cr in net IPO proceeds after deducting its existing cash. At the time of the IPO, its growth strategy necessitated funding support in excess of the IPO proceeds. The company announced last week that its board of directors will meet on December 13 to consider a share buyback proposal.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
