One97 Communications board meets to consider 1st bonus since IPO
Paytm's parent company, One97 Communications, is holding a board meeting today (Monday, July 20) to talk about its June quarter results, and possibly approve a bonus share issue for the first time since going public.
If it happens, over 750,000 small retail shareholders (who together own more than 8% of Paytm) could see some extra shares in their portfolios.
Paytm retail selling for 9 quarters
Retail investors have been quietly selling off their Paytm shares for nine straight quarters, while mutual funds have upped their stake to nearly 18%. Founder Vijay Shekhar Sharma still holds about 9%.
After launching at ₹2,150 per share in 2021 and dropping all the way to ₹300 thanks to regulatory worries, Paytm's stock has bounced back, now sitting at ₹1,340 as of mid-July and up 23% in just the last month.
The record date for any bonus shares isn't set yet; shareholders will need to approve it first.