The move consolidates Paytm's offline and online merchant payments and brings insurance and lending arms under One97 Communications' direct control
One 97 Communications Ltd, the parent company of Paytm, has approved the transfer of its offline merchant payments business to its wholly owned subsidiary, Paytm Payments Services Ltd (PPSL), to comply with the Reserve Bank of India's guidelines for payment aggregators. In a stock exchange filing, the company said the proposed transfer will consolidate the group's online and offline merchant payments businesses under PPSL, which has received in-principle approval from the RBI to carry out a payment aggregator (Online) business. The company said this will ensure that all payment aggregation activities are housed within one regulated entity and will build efficiency and synergy within the group. The Offline Merchant Payments Business includes merchants serviced through QR codes, Soundbox, and EDC machine payments. The transfer will be executed through a slump sale on a going-concern basis, subject to the approval of shareholders and the board of PPSL. Since this is a transfer to a ...
The analysts believe that large merchant payment providers, including Paytm, are entering a robust earnings growth phase
Data shows that as of date 36 out of Nifty 50 shares, and 314 out of Nifty 500 stocks were trading above the long-term 200-Day Moving Average.
This approval marked the end of a two-year wait, during which PPSL was barred from onboarding new merchants
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Motilal Oswal Mutual Fund has acquired additional shares in One 97 Communications, the parent company of fintech firm Paytm, raising its total shareholding to over 5 per cent. According to a regulatory filing on Tuesday, various schemes of Motilal Oswal Mutual Fund acquired 26,31,244 shares of One 97 Communications through open market transactions on August 11, 2024. This adds a 0.41 per cent stake in Motilal Oswal MF's holding in Paytm. The filing did not disclose the valuation of the transaction. Following the transaction, the total shareholding of Motilal Oswal Mutual Fund in the Noida-based digital payments firm has increased from 3,02,80,155 shares (4.74 per cent) to 3,29,11,399 shares, which corresponds to a 5.15 per cent stake. The shares were acquired by over 20 schemes, including the Motilal Oswal Midcap Fund, Flexi Cap Fund, ELSS Tax Saver Fund, and various ETF schemes, the filing noted. As per the filing, the total voting capital of One 97 Communications stands at ...
RBI's in-principle approval allows Paytm to resume merchant onboarding, lifting 2022 restrictions and opening the field to stronger competition in the payments space
Paytm stock has rallied 66 per cent in the last six months, and is now seen trading near the major hurdle, hence technically some consolidation at current levels cannot be ruled out.
Paytm share price gained 6 per cent today after Paytm Payments Services Limited received in-principle approval from the RBI to operate as an online payment aggregator
Notably, the new development comes after China's Ant Financial exited the company last week, selling its entire 5.84 per cent stake for around ₹3,803 crore
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Nearly nine years ago, Paytm founder and CEO Vijay Shekhar Sharma had remarked, "We are as Indian as Maruti," in an interview with PTI, responding to queries about the company's ownership structure at that time. That statement, once seen as symbolic, now reflects the reality, one where Paytm stands as a truly Indian company, both in spirit and shareholding. The mobile payments company is 100 per cent Indian-owned after Jack Ma's Ant Financial exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for around Rs 3,803 crore. A person aware of the contours of the deal said, "Paytm is now as Indian as Tata." This transformation became official with the recent exit of Antfin (Netherlands) Holding BV, which sold its residual 5.84 per cent stake in Paytm for about Rs 3,800 crore through a block deal. With this, Chinese ownership in the company has been reduced to zero, marking a significant shift in its shareholding pattern. In 2016, Vijay She
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One 97 Communications shares fell 2 per cent after about 2.9 per cent equity stake changes hands in a large trade on the BSE
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China's Ant Group to fully exit Paytm with ₹3,800 cr stake sale at ₹1,020 per share, following earlier exits by SoftBank and Berkshire Hathaway
Paytm posted a net profit of Rs 122.5 crore in Q1FY26, driven by sharp cost controls, after a steep loss in the corresponding quarter of FY25