paytm shares – pressnews

[ad_1] Paytm’s plan to buy back shares has left investors surprised and worried about the loss-making Indian fintech firm’s growth prospects as it uses funds to prop-up its hammered stock. Paytm's plan to buy back shares has left investors surprised and worried about the loss-making Indian fintech firm's growth prospects as it uses funds to prop-up its hammered stock.The board of One 97 Communications Ltd., the listed-entity that runs Paytm, will decide on the buyback on Tuesday. The move comes as the stock has plunged about 75% since its listing last November to emerge as the world's worst-performing large initial public offering in a decade. The slump also prompted a unit of Japan's SoftBank Group Corp. — a key backer — to trim its holding. While a buyback could help stem the rout i...

[ad_1] Shares of One 97 Communications Ltd., the parent of Paytm, plunged as a unit of Japan’s SoftBank Group Corp. lowered its stake in the company. (Bloomberg) -- Shares of One 97 Communications Ltd., the parent of India's leading digital payments brand Paytm, plunged in Mumbai as a unit of Japan's SoftBank Group Corp. lowered its stake in the company.SoftBank's SVF India Holdings (Cayman) Ltd. sold 29 million shares of Paytm at 555 rupees ($6.8) each, according to people familiar with the matter, raising 16.1 billion rupees. The trade -- equivalent to 4.5% of the Mumbai-listed firm's equity capital -- pulled down shares by as much as 10%, their biggest plunge since July 29. Representatives for SoftBank and Paytm declined to comment on the pricing. Paytm is among a number of Indian ...

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Paytm Shares Slump as Much as 10% After SoftBank Unit Cuts Stake