Paytm rises 4% as arm completes acquisition of 25% stake in Seven Tech

One 97 Communications, parent of Paytm, shares gained 3.7 per cent in trade on Monday (February 17, 2025), logging an intraday high at Rs 751 per share on BSE. The counter saw buying after the company arm Paytm Cloud Technologies completed the acquisition of Seven Technology LLC.

 

Around 12:13 PM, Paytm share price was up 1.67 per cent at Rs 736 per share on BSE. In comparison, the BSE Sensex was down 0.39 per cent at 75,642.44. The market capitalisation of the company stood at Rs 46,932.33 crore. The 52-week high of the stock was at Rs 1,063 per share and the 52-week low of the stock was at Rs 310 per share.

 

"PCTL on February 13, 2025, at 9.09 PM (IST) that the said transaction has been completed on February 13, 2025," the filing read.  

 

Earlier, Paytm had informed about the investment of $1 million (equivalent to Rs 8.7 crore) by Paytm Cloud Technologies Ltd in Seven Technology LLC, Delaware for acquisition of a 25 per cent stake and entering into transaction documents.

 

"We have been informed by Paytm Cloud Technologies Limited, our wholly-owned subsidiary, that the Board of Directors of PCTL at its meeting held on February 3, 2025 and concluded at 08:15 a.m. (IST) has approved an investment of $1 million (equivalent to Rs 8.70 crore) in Seven Technology LLC incorporated in Delaware for the acquisition of a 25 per cent stake and execution of transaction documents in this regard," the filing read. 

 

Seven Technology LLC is the parent company of Dinie Correspondente Bancário e Meios de Pagamento Ltd. (Dinie), Brazil-based API-first embedded finance start-up. Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small, and medium-sized enterprises (MSMEs) in Brazil. Post-consummation of the transaction, Seven Technology LLC and Dinie will become associate entities of the company.

 

One97 Communications Singapore approved the sale of Stock Acquisition Rights (SARs) held in Japan-based PayPay Corporation last year. Paytm’s Singapore unit acquired these SARs in September 2020.

 

In the past one year, Paytm shares have gained 102 per cent against Sensex's rise of 4.4 per cent.