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Vijay Shekhar Sharma Buys Back Paytm Shares

Story Highlights
  • Sharma purchased 1,00,552 shares worth ₹6.31 crore
  • Sharma's latest purchase cumulatively amounts to nearly ₹11 crore in Paytm
  • Paytm shares close at Rs 629.10 a piece up by 2.64%

New Delhi: Digital financial services firm One97 Communications’ Managing Director Vijay Shekhar Sharma has purchased 1.7 lakh shares of the company worth ₹ 11 crore, according to a regulatory filing. The disclosures from the company, which operates under Paytm brand, show that Sharma bought the shares on May 30-31.

On May 30th, Mr Sharma bought 1,00,552 shares worth ₹ 6.31 crore and on May 31, he bought 71,469 shares worth ₹ 4.68 crore. The company stock was trading at ₹ 625.75 in afternoon session. As per regulations, Mr Sharma was not allowed to buy shares for at least six months being a selling shareholder in Paytm’s IPO and now, with that restriction being over, he has purchased shares of Paytm.

Earlier in April, Mr Sharma had written a letter addressing shareholders where he said the company will achieve operating EBITDA (EBITDA before ESOP cost) breakeven in the next six quarters.“We are encouraged by our business momentum, scale of monetisation and operating leverage.

We expect this to continue, and I believe we should be operating EBITDA breakeven in next 6 quarters (i.e. EBITDA before ESOP cost, and by the quarter ending September 2023), well ahead of estimates by most analysts. Importantly, we are going to achieve this without compromising any of our growth plans,” he wrote.

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