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.
