Domestic Mutual Funds Increase Stake in Paytm by 1% in Q2 FY25

14 Oct 2024

Domestic institutional investors, led by mutual funds, have expanded their stake in Indian fintech giant Paytm. According to the latest shareholding data filed by the company, mutual funds have increased their stake by 1% in the second quarter of FY25. Mirae Asset and Nippon Mutual Funds are the key players...

Zomato Buys Paytm Entertainment Ticketing Business

22 Aug 2024

One 97 Communications Limited, the parent company of Paytm, announced on Wednesday that it has agreed to sell its entertainment ticketing business to Zomato Limited in a deal valued at ₹2,048 crore. This strategic move marks a significant shift in the entertainment ticketing landscape. Transition Period for Users The entertainment...

Paytm In Discussions With Zomato Over Movie Ticketing Business

16 Jun 2024

Online payment company Paytm is currently in talks with food delivery enterprise Zomato, as per the sources familiar with the matter. According to a Bloomberg report, discussions have progressed to advanced stages, yet no final decision has been announced, as there are other potential buyers in the business. This development...

Paytm Terminates Undisclosed Number Of Employees, Offers Outplacement Support

10 Jun 2024

Paytm's Parent company One97 Communications Limited fired an undisclosed number of employees as a part of the restructuring process on Monday. As a result, Paytm is giving outplacement support to these employees, and is collaborating with over 30 companies, which are currently hiring or facilitating, by sharing information to place...

Market Share Of Paytm Continues To Fall After RBI Crackdown

08 Jun 2024

According to a report by Bloomberg, The market share of Paytm in India's online payment sector has declined for the fourth consecutive month. This decline comes as the fintech company struggles to recover from the Reserve Bank of India's (RBI) directive to its affiliate, Paytm Payments Bank, to cease operations....

Layoffs In India’s Tech: Ola, Flipkart, Byju’s, Swiggy Among 20 Companies Cutting Jobs In 2024

06 Jun 2024

The layoffs in India’s tech market is experiencing significant layoffs, along with other global job market. Large new-age companies such as Swiggy, Ola, and Paytm have been cutting down their workforce since January 2024. Here is a compilation of Indian firms that have laid off their employees this year: Simpl...

Paytm registers 25% growth in fiscal year 2023-24

22 May 2024

One 97 Communications, the parent company of the renowned fintech platform Paytm, announced a remarkable 25 percent surge in revenue, reaching Rs 9,978 crore for the fiscal year 2023-24. The company credited this growth to increases in Gross Merchandise Value (GMV), device installations, and expansion in financial services distribution. Since...

Paytm retail and MF investors say ‘Paytm Karo’; Stock added to MSCI small cap index

16 May 2024

One97 Communications, the company behind the widely-used fintech platform Paytm, has been added to the MSCI Emerging Markets Small Cap Index. This move signifies growing confidence among both domestic and international investors in Paytm, evident from substantial stake increases by foreign portfolio investors (FPIs), domestic investors, and major Mutual Funds...

Paytm Market Cap Drops to $2.5 Billion; Shares Continue to Decline

07 May 2024

On Tuesday, the market capitalization of One 97 Communications, the parent company of fintech platform Paytm, neared $2.5 billion as its shares continued to decline. Trading at Rs 334.15 on the Bombay Stock Exchange, the Noida-based company's stock saw a 4.99% drop at market close. This follows a 5% decrease...

Paytm Shares Fall 5% After COO Bhavesh Gupta’s Resignation

06 May 2024

Shares of One 97 Communications, which owns Paytm, dropped by 5% to Rs 351.70 on Monday after Bhavesh Gupta resigned as the company's Chief Operating Officer (COO). Gupta also held the position of President at Paytm. The company confirmed Gupta's resignation in a filing to the stock exchanges. His last...