Paytm has announced buyback totalling maximum of Rs 850 crore @ maximum price of Rs 810/ share. Buyback price is at 57% premium to the closing price on December 13, 2022 (before the announcement); It will be an open market buyback; Will be executed over a maximum period of 6 months; Company’s directors and Key … Read more
Paytm Payments Services Ltd (PPSL) is a subsidiary of One97 Communications Ltd (OCL), the parent of Paytm. OCL had proposed to transfer the payment aggregator (PA) services business undertaken by it to PPSL in December 2020 to comply with the guidelines of the banking regulator. However, the RBI had rejected its application. The company had … Read more
One 97 Communications, the parent Company of Paytm is scheduled to hold it’s AGM on August 19, 2022. Ahead of the meeting, Institutional Investor Advisory Services India (IiAS), a proxy advisory firm, has advised shareholders of One 97 to vote against some key proposed resolutions. Reappointment of Vijay Shekhar Sharma (VSS) as the MD – … Read more
In it’s quarterly operating performance update for March 2022 quarter, Paytm founder Vijay Shekha Sharma (VSS) has informed the following – Paytm should be Operating EBITDA (before ESOP cost) break-even in the next 6 quarters i.e., by September 30, 2023. During December 2021 quarter, Paytm had reported EBITDA (before ESOP cost) loss of Rs 393 … Read more
Veteran banker Aditya Puri on Tuesday raised questions about Paytm’s business model, saying the recently listed financial services company has earned customers not by rendering services but by way of cashbacks. Puri, who led HDFC Bank from inception and made it into the largest in the private sector space by the time he retired … Read more
Paytm Payments Bank (PPB) is a joint venture between Paytm founder Vijay Shekhar Sharma and the listed holding company One97 Communications, the parent of Paytm. Sharma owns 51% in the bank in his personal capacity. It had started operations in 2017 and claims to have 60 million bank accounts with 4 lakh users added every … Read more
Digital payment and financial services firm Paytm plans to enable FASTag-based parking services across the country, after launching its first with the Delhi Metro Rail Corporation (DMRC). Paytm Payments Bank Ltd (PPBL) on Monday said it has enabled the country’s first FASTag-based metro parking facility in partnership with the Delhi Metro Rail Corporation (DMRC). “This … Read more
2017 – “payment wallets like Paytm have no future” – Aditya Puri 2021 – HDFC and Paytm tie-up to leverage on each other’s strengths. Times change and so do the business compulsions ! It’s a very interesting arrangement and has the potential to lay roadmap for similar other tie-ups in future. Why is it so? … Read more
IPO-bound digital payments firm Paytm and India’s largest private sector bank, HDFC Bank, announced a strategic partnership to build comprehensive solutions across payment gateway, point of sale machines and credit products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay. The partnership will aim to empower new … Read more