The listing of Paytm’s shares took place in November 2021.
Its issue price was Rs 2150 per share.
It had closed at Rs 1564.15 on the listing day.
New Delhi. Shares of Paytm (Paytm Share) have caused huge losses to the investors. The fall in the company’s shares is not taking the name of stopping. To stop the fall in the stock, now the company is going to take a big decision. In just one year of listing on the stock exchange, the company has decided to do share buyback (Paytm Share Buyback). A meeting of the company’s board has been called on December 13, in which a decision will be taken on the share buyback. After the news of share buyback came to the fore, since the opening of the stock market on Friday, the shares of Paytm jumped 7 per cent to reach the level of Rs 544 (Paytm Share Price Today).
Paytm’s parent company One 97 Communication has told the stock exchanges that the meeting of the board of directors will be held on December 13, in which the decision on the buyback will be taken. The management expects the buyback to be beneficial for the shareholders considering the current cash and financial position of the company.
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Share came down 75 percent from IPO price
The listing of Paytm’s shares took place in November 2021. Its issue price was Rs 2150 per share. The stock was listed on BSE at Rs.1955. On the other hand, it closed at Rs 1564.15 on the listing day, i.e. at a discount of 27.25 per cent from the IPO price. Since then, there has been a continuous decline in the stock. The share of Rs 2150 fell to Rs 440 after the end of the lock-in period. At present, this stock is trading at 75% below its issue price. The market cap of the company with a market cap of Rs 1.39 lakh crore has now been reduced to Rs 34,473 crore.
Paytm shares have gained momentum today after the news of share buyback by the company surfaced. Paytm shares today opened at Rs 544 on the NSE, up nearly 7 per cent. Till the time of writing the news, Paytm shares were trading at Rs 531.15 with a gain of 4.56 per cent. Paytm’s stock has fallen 17.57 percent in the last one month. Similarly, the share price has declined by 14.86 per cent in the last six months. In the year 2022, the share of Paytm has fallen by 60.40 percent.
Tags: business news, business news in hindi, Paytm, share market, stock market
FIRST PUBLISHED : December 09, 2022, 12:07 IST