Explore the latest news, in-depth reports, and executive analysis tagged with #One97 Communications.
The capital infusion in Paytm Money will be used towards technology investments, regulatory capital requirements and expanding the company's investment and wealth management offerings.
The exit comes at a time when the Noida-based fintech giant has been navigating a significant organizational and regulatory overhaul.
In October, The Head and Tale exclusively reported that the Paytm was facing regulatory roadblocks in the UAE, particularly in securing payments licence.
Paytm had applied to the Central Bank of the UAE for two licences — one covering acquiring and domestic payments, and another for a wallet-type product.
Paytm has approved investments of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services through rights issues.
The approval comes barely a week after Ant Group's Antfin, backed by Chinese giant Alibaba, offloaded its entire 5.84% stake in Paytm.
Meanwhile, the company has appointed Urvashi Sahai, general counsel and senior vice president-legal, as a new board member.
In FY25, revenue from payments services declined 37% yoy to Rs 3,879 crore; financial services revenue down 15% to Rs 1,703 crore.
Nearly 10-15 senior executives—at the AVP, VP, and SVP levels—have been let go from Paytm Payments Services Limited, which is still awaiting its final PA licence from the RBI.
The approval allows Paytm Money to provide SEBI-compliant research services, which include investment insights, research reports and data-driven analysis.
This investment would help in understanding the merchants' business landscape and opportunity in the Brazilian market, Paytm said.
The Noida-based fintech giant, which has re-applied for the payment aggregator license, is undergoing internal restructuring.
Employee benefits - the largest cost centre - stood at Rs 756 crore, compared to Rs 1,187 crore reported in Q3 FY24.
One97 Communications Singapore (Paytm Singapore), has approved sale of stock acquisition rights (SARs) held in PayPay Corporation for Rs 2,364 crore.
The onboarding process was suspended in February this year due to directives from the Reserve Bank of India (RBI).
Bhavesh Gupta's departure, marked by an ego clash with Vijay Shekhar Sharma, resulted in Sharma reclaiming control of Paytm.
