Paytm’s Board Shoots Down Proposal To Issue Bonus Shares
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Fintech major Paytm’s board has voted against a proposal to issue bonus shares.
In a filing with the exchanges, the fintech giant said that its board has decided not to proceed with the proposal “at this time”. Paytm’s board, after evaluating the plan, noted that the company should rather continue its focus on further compounding growth and profitability for shareholder value creation.
“After evaluating the proposal from the perspective of long-term shareholder value and due deliberation, the board was of the view that the Company should continue to focus on further compounding growth and profitability for shareholder value creation. Accordingly, the Board decided not to proceed with the said proposal at this time,” Paytm informed the bourses.
This comes hours after the fintech giant’s parent One 97 Communications announced that its board would consider a proposal for the first-ever bonus issue of shares.
The announcement came alongside Paytm’s Q1 FY27 results. The company’s consolidated net profit zoomed 78.8% to ₹220 Cr in Q1 FY27 as against ₹123 Cr in the year ago quarter. Meanwhile, operating revenue for the quarter under review stood at ₹2,448 Cr, growing 27.6% from ₹1,918 Cr in Q1 FY26.
(This story will be updated soon)
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