The purchase offer will be considered on December 13.

In Mumbai, shares of One 97 Communication Ltd. increased 7% as the owner of India’s largest digital payment provider prepared to consider a takeover.

Paytm’s parent company said that on December 13, its board of directors will meet to discuss a repurchase offer for fully paid shares.

Paytm shares are down 60% this year.

Paytm said in a statement that “management feels that, given the company’s current liquidity, a buyback could be beneficial to our shareholders.”

Due to problems with profitability, competition, marketing expenses, and employee stock options, Paytm’s stock is down 60% this year following a well-watched listing at the end of last year.

Eight stock purchase recommendations, three stock hold recommendations, and one stock sale suggestion are listed by Bloomberg.

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