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The extraordinary general meeting of Paytm is scheduled for July 12 in which the company may seek approval to raise up to Rs 12,000 crore through issuance of fresh equity.
The program will be rolled out in 200 districts across the country with special drives in Karnataka, Kerala, Tamil Nadu, Andhra Pradesh and Telangana.
Paytm slashed marketing cost by about 62 per cent to Rs 533 crore in FY21 from Rs 1,397 crore a year ago.