Paytm Money receives Sebi approval to offer research analyst services

Paytm Money, a wholly-owned subsidiary of One97 Communications Ltd (OCL), has been granted a Certificate of Registration as a research analyst by the Securities and Exchange Board of India (Sebi).

 

Paytm’s share price rose 7.79 per cent, closing at Rs 742.45 on Tuesday on the Bombay Stock Exchange (BSE).

 

Paytm’s wealth management arm will now be able to offer research services that comply with the market regulator’s norms, including research reports and analysis.

 

The registration number for Paytm Money Ltd as a research analyst is INH000020086.

 

“This milestone aligns with Paytm Money’s objective to expand its offerings in the investment ecosystem, enhance user experience, and provide expert-backed insights to both retail and institutional investors,” the company said in a statement.

 

 

The Noida-based firm added that these services would be integrated into Paytm Money.

 

Last month, the company partnered with Perplexity AI to integrate the startup’s artificial intelligence (AI) search features within its application.

 

Paytm said the integration with Perplexity will allow its users to ask questions, explore topics in Indian languages, and make financial decisions. The Noida-based company described the collaboration as a "major step" in integrating AI and mobile payments.

 

In March, Paytm received a show-cause notice from the Enforcement Directorate (ED) for alleged violations of the Foreign Exchange Management Act (Fema), involving aggregate transactions worth over Rs 611 crore related to the acquisition of its subsidiaries.

 

The alleged violations pertain to the company’s acquisition of two subsidiaries—Little Internet Pvt Ltd (LIPL) and Nearbuy India Pvt Ltd (NIPL), formerly Groupon—including certain directors and officers.