One97 Communications gains on getting approval for share buyback plan of Rs 850 crore
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One97 Communications is currently trading at Rs. 534.55, up by 5.40 points or 1.02% from its previous closing of Rs. 529.15 on the BSE.
The scrip opened at Rs. 533.00 and has touched a high and low of Rs. 536.95 and Rs. 530.10 respectively. So far 98826 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1430.00 on 16-Dec-2021 and a 52 week low of Rs. 439.60 on 24-Nov-2022.
Last one week high and low of the scrip stood at Rs. 554.70 and Rs. 506.25 respectively. The current market cap of the company is Rs. 34674.46 crore.
The Institutions and Non-Institutions held 78.58% and 21.41% stake in the company.
One 97 Communications (Paytm) has received an approval for a share buyback plan of Rs 850 crore, priced at Rs 810 per share. The company will undertake the buyback of up to Rs 850 crore (excluding buyback taxes and other transaction costs) at a maximum price of Rs 810 per share, and has opted for the open market route through stock exchanges method, which is to be completed within a maximum period of 6 months.
At the maximum buyback price and the maximum buyback size, the indicative maximum number of equity shares bought back would be 10,493,827. This represents around 1.62 percent of the company's paid-up share capital as of March 2022.
Paytm is India's leading digital ecosystem for consumers as well as merchants.
