News > Paytm can't use IPO proceeds for buyback; firm's liquidity to be used

Paytm can't use IPO proceeds for buyback; firm's liquidity to be used

12/12/2022 08:57 PM | Click to read full article

One 97 Communications Ltd, the operator of India's largest digital payments provider Paytm, cannot use proceeds of its mega initial public offering (IPO) for the proposed repurchase of its own shares, as rules prohibit such a move, sources said, adding the firm will use its strong liquidity for the purpose. Paytm has a liquidity of ₹9,182 crore, as per its last earnings report.

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