One97 Communications
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By Jaspreet Kalra
MUMBAI, Sept 16 (Reuters) - Using mobile phones to scan a QR code for payments has become near ubiquitous behaviour in India over the last decade, thanks to a widely used homegrown network, the Unified Payments Interface (UPI).
But after six years of free use, regardless of size or type of payment, India has decided to start charging merchants a fee of 0.4% for transactions of more than 2,000 rupees ($21), known as the Merchant Discount Rate (MDR), with some exclusions, though person-to-person transfers remain free.
Shares of Indian payment firms rose on Wednesday as investors saw the MDR opening fresh revenue lines for banks and payment firms that have so far absorbed the costs of such transactions.
HOW BIG IS UPI?
In August, UPI processed a total of 24.5 billion transactions worth 29,823 billion rupees for more than 550 million users, official data show.
UPI has a share of 84% in India's digital payments by volume and a 49% share of global real-time payment volumes, the government said on Tuesday.
Walmart's PhonePe and Alphabet's GooglePay had about 80% market share by value of UPI transactions in August.
WAS UPI ALWAYS FREE?
Its pricing model at launch in 2016 included nominal charges temporarily waived in 2017 when India demonetised a large chunk of its high-denomination currency notes.
In 2020, all charges were scrapped, kicking off a zero-MDR regime set to end on October 15, 2026.
WHAT FEE WILL BE IMPOSED?
A fee of 40 basis points applies to transactions above 2,000 rupees with merchants, along with carve-outs for payments to small merchants and those operating in rural or semi-urban areas. Widely used categories such as telecom, railways and mutual fund or stock investments will attract lower charges.
Fees are capped at 300 rupees on transactions exceeding 75,000 rupees.
WILL CONSUMERS PAY THE FEE?
While the National Payment Corporation has said merchants cannot pass on the fee to consumers directly, critics fear they will eventually pass on the charges to customers.
Merchants pay the fee to banks that process the transactions with a portion also passed on to payment apps, such as Google Pay and PhonePe, that facilitate such payments.
WHAT CRITICISM DOES IT FACE?
India's opposition party, Congress, has criticised the government's decision, with opposition leader Rahul Gandhi saying the fees will swell the burden for consumers as merchants pass on the cost.
Social media users have also voiced concern that the change could prompt merchants to prefer cash payments, questioning the rationale for levying charges to use "digital public infrastructure," as the government has termed it in the past.
WHY DOES UPI NEED THE MERCHANT DISCOUNT RATE?
India's government, the central bank and payments authority say, the MDR will help make UPI self-sustainable, give a fillip to expansion in rural and semi-urban areas, and keep a large majority of payments free of charge.
($1=95.9275 rupees)
(Reporting by Jaspreet Kalra; Editing by Clarence Fernandez)
(([email protected]; +91-8769636545;))
By Jaspreet Kalra
MUMBAI, Sept 16 (Reuters) - Using mobile phones to scan a QR code for payments has become near ubiquitous behaviour in India over the last decade, thanks to a widely used homegrown network, the Unified Payments Interface (UPI).
But after six years of free use, regardless of size or type of payment, India has decided to start charging merchants a fee of 0.4% for transactions of more than 2,000 rupees ($21), known as the Merchant Discount Rate (MDR), with some exclusions, though person-to-person transfers remain free.
Shares of Indian payment firms rose on Wednesday as investors saw the MDR opening fresh revenue lines for banks and payment firms that have so far absorbed the costs of such transactions.
HOW BIG IS UPI?
In August, UPI processed a total of 24.5 billion transactions worth 29,823 billion rupees for more than 550 million users, official data show.
UPI has a share of 84% in India's digital payments by volume and a 49% share of global real-time payment volumes, the government said on Tuesday.
Walmart's PhonePe and Alphabet's GooglePay had about 80% market share by value of UPI transactions in August.
WAS UPI ALWAYS FREE?
Its pricing model at launch in 2016 included nominal charges temporarily waived in 2017 when India demonetised a large chunk of its high-denomination currency notes.
In 2020, all charges were scrapped, kicking off a zero-MDR regime set to end on October 15, 2026.
WHAT FEE WILL BE IMPOSED?
A fee of 40 basis points applies to transactions above 2,000 rupees with merchants, along with carve-outs for payments to small merchants and those operating in rural or semi-urban areas. Widely used categories such as telecom, railways and mutual fund or stock investments will attract lower charges.
Fees are capped at 300 rupees on transactions exceeding 75,000 rupees.
WILL CONSUMERS PAY THE FEE?
While the National Payment Corporation has said merchants cannot pass on the fee to consumers directly, critics fear they will eventually pass on the charges to customers.
Merchants pay the fee to banks that process the transactions with a portion also passed on to payment apps, such as Google Pay and PhonePe, that facilitate such payments.
WHAT CRITICISM DOES IT FACE?
India's opposition party, Congress, has criticised the government's decision, with opposition leader Rahul Gandhi saying the fees will swell the burden for consumers as merchants pass on the cost.
Social media users have also voiced concern that the change could prompt merchants to prefer cash payments, questioning the rationale for levying charges to use "digital public infrastructure," as the government has termed it in the past.
WHY DOES UPI NEED THE MERCHANT DISCOUNT RATE?
India's government, the central bank and payments authority say, the MDR will help make UPI self-sustainable, give a fillip to expansion in rural and semi-urban areas, and keep a large majority of payments free of charge.
($1=95.9275 rupees)
(Reporting by Jaspreet Kalra; Editing by Clarence Fernandez)
(([email protected]; +91-8769636545;))
One97 Communications said the National Payments Corporation of India introduced a merchant discount rate of up to 0.4% on Unified Payments Interface person-to-merchant transactions above Rs2,000 through a circular dated September 15, 2026, effective October 15, 2026. Customers would continue to pay no charge for UPI payments, while the company said the levy would create additional revenue from merchant transactions that were free earlier and that it would disclose impact once ascertained. Payments contributed roughly 55% of its Rs8,440 crore consolidated operating revenue in FY26, while financial-services distribution accounted for about 30%. The company had 1.57 crore Soundbox devices deployed in the June quarter, when merchant gross merchandise value rose 31% and consumer UPI transaction value grew 45%. Its material subsidiary Paytm Payments Services held online, offline and cross-border payment aggregator licences, and took over the offline merchant payments business on November 30, 2025.
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One97 Communications said the National Payments Corporation of India introduced a merchant discount rate of up to 0.4% on Unified Payments Interface person-to-merchant transactions above Rs2,000 through a circular dated September 15, 2026, effective October 15, 2026. Customers would continue to pay no charge for UPI payments, while the company said the levy would create additional revenue from merchant transactions that were free earlier and that it would disclose impact once ascertained. Payments contributed roughly 55% of its Rs8,440 crore consolidated operating revenue in FY26, while financial-services distribution accounted for about 30%. The company had 1.57 crore Soundbox devices deployed in the June quarter, when merchant gross merchandise value rose 31% and consumer UPI transaction value grew 45%. Its material subsidiary Paytm Payments Services held online, offline and cross-border payment aggregator licences, and took over the offline merchant payments business on November 30, 2025.
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** Analysts say merchant discount rate on large transactions via India's United Payments Interface will boost earnings of Pine Labs PINL.NS and Paytm-owner One 97 Communications PAYT.NS
** India notified changes in payments legislation on Monday, altering an earlier provision that prevented banks from charging fees on UPI payments
** New rules pave way for charges to be imposed on money transfers above 2,000 rupees ($20.86)
** MDR of 15-35 bps can lift earnings for Paytm and Pine Labs by 15% to 35% and 10% to 20%, respectively--Jefferies
** PAYTM and PINL up 31.6% and 41.3%, respectively, since August, in anticipation of the news
** Ambit says anticipated move marks inflection point for payment ecosystem
** Initiates coverage of Pine Labs and Paytm with "buy"; TP of 2,100 rupees for PAYT, Street-high TP of 250 rupees for PINL
** Shares of PINL and PAYT down 2.89% and 2.24%, respectively, on Tuesday
** YTD, PINL down 17.98%, PAYT up 36.01%
($1 = 95.9000 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
(([email protected]; (+91) 8296756080))
** Analysts say merchant discount rate on large transactions via India's United Payments Interface will boost earnings of Pine Labs PINL.NS and Paytm-owner One 97 Communications PAYT.NS
** India notified changes in payments legislation on Monday, altering an earlier provision that prevented banks from charging fees on UPI payments
** New rules pave way for charges to be imposed on money transfers above 2,000 rupees ($20.86)
** MDR of 15-35 bps can lift earnings for Paytm and Pine Labs by 15% to 35% and 10% to 20%, respectively--Jefferies
** PAYTM and PINL up 31.6% and 41.3%, respectively, since August, in anticipation of the news
** Ambit says anticipated move marks inflection point for payment ecosystem
** Initiates coverage of Pine Labs and Paytm with "buy"; TP of 2,100 rupees for PAYT, Street-high TP of 250 rupees for PINL
** Shares of PINL and PAYT down 2.89% and 2.24%, respectively, on Tuesday
** YTD, PINL down 17.98%, PAYT up 36.01%
($1 = 95.9000 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
(([email protected]; (+91) 8296756080))
Updates to add details from NSE IPO
MUMBAI, Sept 11 (Reuters) - National Stock Exchange (NSE), India's largest stock exchange, will open its initial public offering next week.
The offer-for-sale, which does not include any fresh capital being raised, will value NSE at close to $46 billion, which would make it the country's third-largest IPO.
Billionaire Mukesh Ambani's Reliance Jio Platforms IPO, likely later this year, is expected to raise about $3.8 billion, making it the country's biggest-ever stock offering.
Here are the five largest Indian IPOs to date:
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion rupees ($2.95 billion) in October 2024 in what is currently India's biggest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors set to dilute their stakes.
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion rupees ($2.17 billion) from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion.
The shares slid nearly 8% on their debut.
PAYTM
Paytm PAYT.NS, an Indian fintech firm, raised 183 billion rupees in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding to 16%.
Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history at the time.
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion rupees in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India. The shares listed at a slight premium of 1.23%.
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion rupees in October 2025.
The IPO was oversubscribed 54 times — the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 — attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
($1 = 94.3800 Indian rupees)
(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by Aditya Kalra, Kate Mayberry and Kevin Buckland)
(([email protected];))
Updates to add details from NSE IPO
MUMBAI, Sept 11 (Reuters) - National Stock Exchange (NSE), India's largest stock exchange, will open its initial public offering next week.
The offer-for-sale, which does not include any fresh capital being raised, will value NSE at close to $46 billion, which would make it the country's third-largest IPO.
Billionaire Mukesh Ambani's Reliance Jio Platforms IPO, likely later this year, is expected to raise about $3.8 billion, making it the country's biggest-ever stock offering.
Here are the five largest Indian IPOs to date:
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion rupees ($2.95 billion) in October 2024 in what is currently India's biggest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors set to dilute their stakes.
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion rupees ($2.17 billion) from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion.
The shares slid nearly 8% on their debut.
PAYTM
Paytm PAYT.NS, an Indian fintech firm, raised 183 billion rupees in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding to 16%.
Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history at the time.
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion rupees in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India. The shares listed at a slight premium of 1.23%.
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion rupees in October 2025.
The IPO was oversubscribed 54 times — the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 — attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
($1 = 94.3800 Indian rupees)
(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by Aditya Kalra, Kate Mayberry and Kevin Buckland)
(([email protected];))
** Shares of India's Paytm PAYT.NS rise as much as 3.8% to 1,604.90 rupees
** 19.2 million shares sold by Resilient Asset Management change hands in block deals worth 29.49 billion rupees on Tuesday, exchange data show
** Floor price for block deals set at 1,535.10 rupees per share, about 1% premium to stock's close on Tuesday
** Foreign investors including Goldman Sachs, BNP Paribas and Societe Generale, and domestic investors such as SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund were among the buyers
** Stock up 22.2% YTD
(Reporting by Payel Das in Bengaluru)
** Shares of India's Paytm PAYT.NS rise as much as 3.8% to 1,604.90 rupees
** 19.2 million shares sold by Resilient Asset Management change hands in block deals worth 29.49 billion rupees on Tuesday, exchange data show
** Floor price for block deals set at 1,535.10 rupees per share, about 1% premium to stock's close on Tuesday
** Foreign investors including Goldman Sachs, BNP Paribas and Societe Generale, and domestic investors such as SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund were among the buyers
** Stock up 22.2% YTD
(Reporting by Payel Das in Bengaluru)
** Shares of India's One 97 Communications PAYT.NS fall 1.28% to 1,560.40 rupees, on track for third session of losses
** Fintech firm said on Monday that Netherlands-based Resilient Asset Management, fully owned by its founder and CEO Vijay Shekhar Sharma, has proposed to sell upto 4.98% stake in co
** Resilient held 10.19% stake in co as of June 30, 2026 -LSEG data
** Floor price for block trade set at 1,535.10 rupees per share, a discount of 2.85% to Paytm's last close of 1,580.20 rupees
** Proposed sale would value stake at about 48.95 billion rupees ($511.63 million) at that price
** YTD stock up 20.1%
($1 = 95.6750 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of India's One 97 Communications PAYT.NS fall 1.28% to 1,560.40 rupees, on track for third session of losses
** Fintech firm said on Monday that Netherlands-based Resilient Asset Management, fully owned by its founder and CEO Vijay Shekhar Sharma, has proposed to sell upto 4.98% stake in co
** Resilient held 10.19% stake in co as of June 30, 2026 -LSEG data
** Floor price for block trade set at 1,535.10 rupees per share, a discount of 2.85% to Paytm's last close of 1,580.20 rupees
** Proposed sale would value stake at about 48.95 billion rupees ($511.63 million) at that price
** YTD stock up 20.1%
($1 = 95.6750 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
One 97 Communications said Resilient Asset Management B.V. proposed to sell up to 4.98% of Paytm through a block market trade under its existing optionally convertible debenture agreement with Antfin (Netherlands) Holding B.V. The economic value from the sale was to be retained by Antfin, while Paytm was not a party to the transaction and the founder’s direct shareholding was unchanged. Resilient had acquired an approximately 10.20% stake in Paytm from Antfin against OCDs in August 2023. A separate August 4 sale by SAIF III Mauritius and affiliates had reduced their combined holding from 14.40% to 10.73%.
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One 97 Communications said Resilient Asset Management B.V. proposed to sell up to 4.98% of Paytm through a block market trade under its existing optionally convertible debenture agreement with Antfin (Netherlands) Holding B.V. The economic value from the sale was to be retained by Antfin, while Paytm was not a party to the transaction and the founder’s direct shareholding was unchanged. Resilient had acquired an approximately 10.20% stake in Paytm from Antfin against OCDs in August 2023. A separate August 4 sale by SAIF III Mauritius and affiliates had reduced their combined holding from 14.40% to 10.73%.
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Aug 17 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - RESILIENT ASSET MANAGEMENT TO SELL UP TO 4.98% PAYTM STAKE VIA BLOCK MARKET TRADE
PAYTM - ECONOMIC VALUE FROM PAYTM STAKE SALE TO BE RETAINED BY ANTFIN (NETHERLANDS) HOLDING B.V.
Source text: ID:nNSE24F9Pc
Further company coverage: PAYT.NS
(([email protected];))
Aug 17 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - RESILIENT ASSET MANAGEMENT TO SELL UP TO 4.98% PAYTM STAKE VIA BLOCK MARKET TRADE
PAYTM - ECONOMIC VALUE FROM PAYTM STAKE SALE TO BE RETAINED BY ANTFIN (NETHERLANDS) HOLDING B.V.
Source text: ID:nNSE24F9Pc
Further company coverage: PAYT.NS
(([email protected];))
** Paytm PAYT.NS shares jump as much as 10.62% to 1,594.70 rupees, their highest since Dec. 20, 2021
** Uptick after Bernstein reiterates "outperform" and raises price target to 2,200 rupees from 1,500 rupees, implying an upside of 53% for PAYT in the next 12 months
** The brokerage's PT is the highest among 20 analysts tracking the online payments services provider with an average rating of "buy"
** Says introduction of merchant discount rate — the fee charged to merchants for accepting digital payment transactions — on UPI transactions could lift net payment margins by 3-4 bps, driving a 30% increase in FY2030 EPS
** "Recent commentary from the Ministry of Finance, coupled with legislative changes that remove the statutory prohibition on charging MDR on UPI transactions, suggests the debate has shifted from 'if' MDR returns to 'when' and 'in what' form" - Bernstein
** Estimates MDR to apply to 50% of transaction value and that PAYT can realise 22 billion rupees of incremental operating profit by FY2030
** PAYT shares are up 22.2% in 2026 so far, according to exchange data
($1 = 95.2825 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Paytm PAYT.NS shares jump as much as 10.62% to 1,594.70 rupees, their highest since Dec. 20, 2021
** Uptick after Bernstein reiterates "outperform" and raises price target to 2,200 rupees from 1,500 rupees, implying an upside of 53% for PAYT in the next 12 months
** The brokerage's PT is the highest among 20 analysts tracking the online payments services provider with an average rating of "buy"
** Says introduction of merchant discount rate — the fee charged to merchants for accepting digital payment transactions — on UPI transactions could lift net payment margins by 3-4 bps, driving a 30% increase in FY2030 EPS
** "Recent commentary from the Ministry of Finance, coupled with legislative changes that remove the statutory prohibition on charging MDR on UPI transactions, suggests the debate has shifted from 'if' MDR returns to 'when' and 'in what' form" - Bernstein
** Estimates MDR to apply to 50% of transaction value and that PAYT can realise 22 billion rupees of incremental operating profit by FY2030
** PAYT shares are up 22.2% in 2026 so far, according to exchange data
($1 = 95.2825 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of India's Paytm PAYT.NS fall 1.3% to 1392.40 rupees
** 14.9 mln shares of PAYT worth 20.38 bln rupees traded on Tuesday via block deal
** Block deal price of 1367.80 rupees per share at a discount from Monday's closing level of 1410 rupees
** Earlier in the session, PAYT was up as much as 1.9%
** Deal likely made by early investors Saif Partners and Elevation Capital, as per report from CNBC-TV18
** Saif Partners and Elevation Capital did not immediately respond to Reuters requests for comment
** PAYT on avg rated "buy" by 20 analysts; median PT is 1500 rupees - LSEG-compiled data
** Stock up 7.2% YTD
(Reporting by Abhirami G in Bengaluru)
** Shares of India's Paytm PAYT.NS fall 1.3% to 1392.40 rupees
** 14.9 mln shares of PAYT worth 20.38 bln rupees traded on Tuesday via block deal
** Block deal price of 1367.80 rupees per share at a discount from Monday's closing level of 1410 rupees
** Earlier in the session, PAYT was up as much as 1.9%
** Deal likely made by early investors Saif Partners and Elevation Capital, as per report from CNBC-TV18
** Saif Partners and Elevation Capital did not immediately respond to Reuters requests for comment
** PAYT on avg rated "buy" by 20 analysts; median PT is 1500 rupees - LSEG-compiled data
** Stock up 7.2% YTD
(Reporting by Abhirami G in Bengaluru)
By Ashwin Manikandan
MUMBAI, July 28 (Reuters) - India's central bank said on Tuesday that the Delhi High Court has ordered the winding up of Paytm Payments Bank and appointed a former State Bank of India executive as the official liquidator, marking the final step in the closure of the payments bank following a prolonged regulatory crackdown.
The Reserve Bank of India had cancelled the banking licence of Paytm Payments Bank on April 24 and subsequently approached the court seeking winding-up proceedings and the appointment of a liquidator.
"The affairs of the bank were conducted in a manner detrimental to the interest of the bank and its depositors," the RBI said at the time.
Girikumar M. Nair will oversee the liquidation process and exercise all the powers of the bank's board with effect from July 8, the RBI said.
Paytm Payments Bank was once India's largest payments bank and a key part of the country's digital payments ecosystem after receiving a licence in 2015.
A payments banks is a type of lender in India that is allowed to accept deposits but not extend loans.
Paytm Payments Bank, backed by digital payments firm One 97 Communications PAYT.NS, came under increasing regulatory scrutiny in March 2022 after the RBI ordered the bank to stop onboarding new customers, citing supervisory concerns.
In January 2024, the RBI barred the bank from accepting fresh deposits due to persistent non-compliance issues.
(Reporting by Ashwin Manikandan; Editing by Sonia Cheema)
(([email protected];))
By Ashwin Manikandan
MUMBAI, July 28 (Reuters) - India's central bank said on Tuesday that the Delhi High Court has ordered the winding up of Paytm Payments Bank and appointed a former State Bank of India executive as the official liquidator, marking the final step in the closure of the payments bank following a prolonged regulatory crackdown.
The Reserve Bank of India had cancelled the banking licence of Paytm Payments Bank on April 24 and subsequently approached the court seeking winding-up proceedings and the appointment of a liquidator.
"The affairs of the bank were conducted in a manner detrimental to the interest of the bank and its depositors," the RBI said at the time.
Girikumar M. Nair will oversee the liquidation process and exercise all the powers of the bank's board with effect from July 8, the RBI said.
Paytm Payments Bank was once India's largest payments bank and a key part of the country's digital payments ecosystem after receiving a licence in 2015.
A payments banks is a type of lender in India that is allowed to accept deposits but not extend loans.
Paytm Payments Bank, backed by digital payments firm One 97 Communications PAYT.NS, came under increasing regulatory scrutiny in March 2022 after the RBI ordered the bank to stop onboarding new customers, citing supervisory concerns.
In January 2024, the RBI barred the bank from accepting fresh deposits due to persistent non-compliance issues.
(Reporting by Ashwin Manikandan; Editing by Sonia Cheema)
(([email protected];))
By Ashwin Manikandan
MUMBAI, July 23 (Reuters) - Several Indian digital payments firms have opposed a proposal that would allow merchants to store customers' preferred Unified Payments Interface option for one-click checkouts, arguing it could entrench the dominance of the bigger payment apps.
In a July 23 letter reviewed by Reuters, the companies told the National Payments Corporation of India (NPCI), which oversees the UPI network, that the proposal could "adversely impact" competition.
The signatories include Paytm, Meta-backed CRED, Flipkart's Super.money, among others.
NPCI and the companies did not immediately reply to Reuters' requests for comments.
UPI processed over 227 billion transactions worth more than 28 trillion rupees ($289.94 billion) in June, according to NPCI data, making it one of the world's most widely used fast payment networks.
Walmart-backed PhonePe and Alphabet's Google Pay together account for roughly four-fifths of these transactions.
The proposed framework, referred to as UPI Meta or UPI Checkout, would let users save a preferred payment handle or linked bank account with merchants, eliminating the need to select a payments app each time they make a purchase.
Instead, customers would proceed directly to authentication using a PIN or biometric verification, similar to how saved card details can be used for faster checkouts.
"The proposed framework is expected to materially increase persistence of customer preference towards the (third party apps) selected during the initial setup process," the companies said in the letter.
The firms said that once a customer saves a UPI ID for payment, it is unlikely to change, making it tougher for smaller apps to compete.
The concentration of UPI payments through a few platforms has been a concern for the payments authority.
NPCI introduced a plan in 2020 to limit the market share of any single UPI app to 30%, but has repeatedly delayed implementation. The current compliance deadline is December 2026.
($1 = 96.5725 Indian rupees)
(Reporting by Ashwin Manikandan; Editing by Eileen Soreng)
(([email protected];))
By Ashwin Manikandan
MUMBAI, July 23 (Reuters) - Several Indian digital payments firms have opposed a proposal that would allow merchants to store customers' preferred Unified Payments Interface option for one-click checkouts, arguing it could entrench the dominance of the bigger payment apps.
In a July 23 letter reviewed by Reuters, the companies told the National Payments Corporation of India (NPCI), which oversees the UPI network, that the proposal could "adversely impact" competition.
The signatories include Paytm, Meta-backed CRED, Flipkart's Super.money, among others.
NPCI and the companies did not immediately reply to Reuters' requests for comments.
UPI processed over 227 billion transactions worth more than 28 trillion rupees ($289.94 billion) in June, according to NPCI data, making it one of the world's most widely used fast payment networks.
Walmart-backed PhonePe and Alphabet's Google Pay together account for roughly four-fifths of these transactions.
The proposed framework, referred to as UPI Meta or UPI Checkout, would let users save a preferred payment handle or linked bank account with merchants, eliminating the need to select a payments app each time they make a purchase.
Instead, customers would proceed directly to authentication using a PIN or biometric verification, similar to how saved card details can be used for faster checkouts.
"The proposed framework is expected to materially increase persistence of customer preference towards the (third party apps) selected during the initial setup process," the companies said in the letter.
The firms said that once a customer saves a UPI ID for payment, it is unlikely to change, making it tougher for smaller apps to compete.
The concentration of UPI payments through a few platforms has been a concern for the payments authority.
NPCI introduced a plan in 2020 to limit the market share of any single UPI app to 30%, but has repeatedly delayed implementation. The current compliance deadline is December 2026.
($1 = 96.5725 Indian rupees)
(Reporting by Ashwin Manikandan; Editing by Eileen Soreng)
(([email protected];))
** Brokerages positive on One 97 Communications PAYT.NS growth outlook after robust Q1 profit
** Stock rises 0.12% to 1,302.10 rupees, up about 14% this month
PAYMENTS, FINANCIAL SERVICES TO DRIVE NEXT LEG OF GROWTH
** Morgan Stanley ("equal-weight", raises PT to 1,450 rupees from 1,175 rupees) expects momentum in payments and financial services to continue, but recent rally limits stock's upside
** Emkay Global ("buy", raises PT to 1,700 rupees from 1,500 rupees) says stronger operating leverage and multiple long-term growth drivers should support further earnings growth
** Dolat Capital ("buy", raises PT to 1,750 rupees from 1,600 rupees) says improving payment volumes, consumer monetisation and management's 15%-20% EBITDA margin target strengthen medium-term growth visibility
** Macquarie ("neutral", PT 1,235 rupees) expects revenue growth and margin expansion to continue, but believes the improving outlook is already reflected in the stock
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
** Brokerages positive on One 97 Communications PAYT.NS growth outlook after robust Q1 profit
** Stock rises 0.12% to 1,302.10 rupees, up about 14% this month
PAYMENTS, FINANCIAL SERVICES TO DRIVE NEXT LEG OF GROWTH
** Morgan Stanley ("equal-weight", raises PT to 1,450 rupees from 1,175 rupees) expects momentum in payments and financial services to continue, but recent rally limits stock's upside
** Emkay Global ("buy", raises PT to 1,700 rupees from 1,500 rupees) says stronger operating leverage and multiple long-term growth drivers should support further earnings growth
** Dolat Capital ("buy", raises PT to 1,750 rupees from 1,600 rupees) says improving payment volumes, consumer monetisation and management's 15%-20% EBITDA margin target strengthen medium-term growth visibility
** Macquarie ("neutral", PT 1,235 rupees) expects revenue growth and margin expansion to continue, but believes the improving outlook is already reflected in the stock
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of One 97 Communications PAYT.NS up about 0.6% at 1,355 rupees
** Paytm parent reports 79% jump in quarterly net profit to 2.2 bln rupees ($22.81 mln)
** Q1 revenue from operations rises to 24.48 bln rupees compared with 19.18 billion rupees in the year-ago period
** Citi says Paytm is seeing growth acceleration, led by both merchant and consumer franchises; maintains "Buy", raises TP to 1,560 rupees vs 1,425 rupees earlier
** Within payments, growth driven by market share gains in both offline and online payments, with latter a function of ability to onboard new merchants starting late last year - Goldman Sachs
** GS maintains "Buy", raises TP to 1,500 rupees from 1,430 rupees
** 13 out of 19 analysts rate the stock "Buy" or higher, median PT of 1,417.50 rupees - LSEG-compiled data
** YTD, stock up 3.74%
($1 = 96.4400 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
(([email protected]; (+91) 8296756080))
** Shares of One 97 Communications PAYT.NS up about 0.6% at 1,355 rupees
** Paytm parent reports 79% jump in quarterly net profit to 2.2 bln rupees ($22.81 mln)
** Q1 revenue from operations rises to 24.48 bln rupees compared with 19.18 billion rupees in the year-ago period
** Citi says Paytm is seeing growth acceleration, led by both merchant and consumer franchises; maintains "Buy", raises TP to 1,560 rupees vs 1,425 rupees earlier
** Within payments, growth driven by market share gains in both offline and online payments, with latter a function of ability to onboard new merchants starting late last year - Goldman Sachs
** GS maintains "Buy", raises TP to 1,500 rupees from 1,430 rupees
** 13 out of 19 analysts rate the stock "Buy" or higher, median PT of 1,417.50 rupees - LSEG-compiled data
** YTD, stock up 3.74%
($1 = 96.4400 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
(([email protected]; (+91) 8296756080))
BENGALURU, July 20 (Reuters) - Diary of India economic, corporate events on July 20
ECONOMIC, CORPORATE .BSE500 EVENTS:
RIC | Local Start Date | Local Time | Indicator Name | Period | Reuters Poll | Prior |
ININFR=ECI | 20 Jul 2026 | 17:00 | Infrastructure Output YY | Jun | 0.50% |
Start Date | Start Time | RIC | Company Name | Event Name |
20-Jul-2026 | NTS | ULTC.NS | UltraTech Cement Ltd | Q1 2027 UltraTech Cement Ltd Earnings Release |
20-Jul-2026 | NTS | JAPR.NS | Jaiprakash Power Ventures Ltd | Q1 2027 Jaiprakash Power Ventures Ltd Earnings Release |
20-Jul-2026 | NTS | IOBK.NS | Indian Overseas Bank | Q1 2027 Indian Overseas Bank Earnings Release |
20-Jul-2026 | NTS | PAYT.NS | One 97 Communications Ltd | Q1 2027 One 97 Communications Ltd Earnings Release |
20-Jul-2026 | NTS | TRNF.NS | Transformers and Rectifiers (India) Ltd | Q1 2027 Transformers and Rectifiers (India) Ltd Earnings Release |
20-Jul-2026 | NTS | ACEL.NS | Action Construction Equipment Ltd | Q1 2027 Action Construction Equipment Ltd Earnings Release |
20-Jul-2026 | NTS | AUTH.NS | Authum Investment & Infrastructure Ltd | Q1 2027 Authum Investment & Infrastructure Ltd Earnings Release |
20-Jul-2026 | NTS | SOBH.NS | Sobha Ltd | Q1 2027 Sobha Ltd Earnings Release |
20-Jul-2026 | 13:21 | SHYE.NS | Shyam Metalics and Energy Ltd | Q1 2027 Shyam Metalics and Energy Ltd Earnings Release |
20-Jul-2026 | 11:30 | USBL.NS | Usha Martin Ltd | Usha Martin Ltd Annual Shareholders Meeting |
NTS - 'No time scheduled'
(Compiled by Bengaluru Newsroom)
BENGALURU, July 20 (Reuters) - Diary of India economic, corporate events on July 20
ECONOMIC, CORPORATE .BSE500 EVENTS:
RIC | Local Start Date | Local Time | Indicator Name | Period | Reuters Poll | Prior |
ININFR=ECI | 20 Jul 2026 | 17:00 | Infrastructure Output YY | Jun | 0.50% |
Start Date | Start Time | RIC | Company Name | Event Name |
20-Jul-2026 | NTS | ULTC.NS | UltraTech Cement Ltd | Q1 2027 UltraTech Cement Ltd Earnings Release |
20-Jul-2026 | NTS | JAPR.NS | Jaiprakash Power Ventures Ltd | Q1 2027 Jaiprakash Power Ventures Ltd Earnings Release |
20-Jul-2026 | NTS | IOBK.NS | Indian Overseas Bank | Q1 2027 Indian Overseas Bank Earnings Release |
20-Jul-2026 | NTS | PAYT.NS | One 97 Communications Ltd | Q1 2027 One 97 Communications Ltd Earnings Release |
20-Jul-2026 | NTS | TRNF.NS | Transformers and Rectifiers (India) Ltd | Q1 2027 Transformers and Rectifiers (India) Ltd Earnings Release |
20-Jul-2026 | NTS | ACEL.NS | Action Construction Equipment Ltd | Q1 2027 Action Construction Equipment Ltd Earnings Release |
20-Jul-2026 | NTS | AUTH.NS | Authum Investment & Infrastructure Ltd | Q1 2027 Authum Investment & Infrastructure Ltd Earnings Release |
20-Jul-2026 | NTS | SOBH.NS | Sobha Ltd | Q1 2027 Sobha Ltd Earnings Release |
20-Jul-2026 | 13:21 | SHYE.NS | Shyam Metalics and Energy Ltd | Q1 2027 Shyam Metalics and Energy Ltd Earnings Release |
20-Jul-2026 | 11:30 | USBL.NS | Usha Martin Ltd | Usha Martin Ltd Annual Shareholders Meeting |
NTS - 'No time scheduled'
(Compiled by Bengaluru Newsroom)
July 9 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - PAYTM ENTERS PARTNERSHIP WITH FLIP AND PT DUTA TEKNOLOGI KREATIF IN INDONESIA
PAYTM - PAYTM TO PROVIDE DEVICE HARDWARE, TECHNOLOGY AND MAKE MINORITY INVESTMENT IN DTK
Source text: ID:nBSE9DdCHP
Further company coverage: PAYT.NS
(([email protected];;))
July 9 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - PAYTM ENTERS PARTNERSHIP WITH FLIP AND PT DUTA TEKNOLOGI KREATIF IN INDONESIA
PAYTM - PAYTM TO PROVIDE DEVICE HARDWARE, TECHNOLOGY AND MAKE MINORITY INVESTMENT IN DTK
Source text: ID:nBSE9DdCHP
Further company coverage: PAYT.NS
(([email protected];;))
July 3 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - UNIT PAYTM EUROPE GRANTED PAYMENT INSTITUTION LICENCE EFFECTIVE JULY 02, 2026
Source text: ID:nBSEbzfthW
Further company coverage: PAYT.NS
(([email protected];))
July 3 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - UNIT PAYTM EUROPE GRANTED PAYMENT INSTITUTION LICENCE EFFECTIVE JULY 02, 2026
Source text: ID:nBSEbzfthW
Further company coverage: PAYT.NS
(([email protected];))
Adds details throughout on Jio Platforms
MUMBAI, June 19 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms filed regulatory papers for an IPO on Friday that sources said would raise about $3.8 billion, making it the country's biggest-ever stock offering.
Another IPO that is in the pipeline - by the National Stock Exchange of India - is likely to be worth about $3.3 billion.
Here are the five largest Indian IPOs to date:
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion rupees ($2.95 billion) in October 2024 in what is currently India's biggest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors set to dilute their stakes.
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion rupees ($2.17 billion) from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion.
The shares slid nearly 8% on their debut.
PAYTM
Paytm PAYT.NS, an Indian fintech firm, raised 183 billion rupees in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding to 16%.
Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history at the time.
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion rupees in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India. The shares listed at a slight premium of 1.23%.
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion rupees in October 2025.
The IPO was oversubscribed 54 times - the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 - attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
($1 = 94.3800 Indian rupees)
(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by AdityaKate Mayberry and Kevin Buckland)
(([email protected];))
Adds details throughout on Jio Platforms
MUMBAI, June 19 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms filed regulatory papers for an IPO on Friday that sources said would raise about $3.8 billion, making it the country's biggest-ever stock offering.
Another IPO that is in the pipeline - by the National Stock Exchange of India - is likely to be worth about $3.3 billion.
Here are the five largest Indian IPOs to date:
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion rupees ($2.95 billion) in October 2024 in what is currently India's biggest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors set to dilute their stakes.
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion rupees ($2.17 billion) from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion.
The shares slid nearly 8% on their debut.
PAYTM
Paytm PAYT.NS, an Indian fintech firm, raised 183 billion rupees in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding to 16%.
Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history at the time.
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion rupees in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India. The shares listed at a slight premium of 1.23%.
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion rupees in October 2025.
The IPO was oversubscribed 54 times - the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 - attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
($1 = 94.3800 Indian rupees)
(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by AdityaKate Mayberry and Kevin Buckland)
(([email protected];))
Updates to add IPO filing by NSE
MUMBAI, June 18 (Reuters) - The National Stock Exchange of India has filed draft papers for a long-delayed listing that will be one of two mega initial public offerings in the country this year, alongside billionaire Mukesh Ambani's Reliance Jio.
NSE's IPO is likely to be worth $3.3 billion, based on its share price in private markets, and comes after years of regulatory delays. Existing investors will sell 6% of the company's equity as part of the issue, which will be a pure offer-for-sale with no fresh equity being raised.
Ambani's AI-to-telecoms arm Reliance Jio Platforms is also gearing up for a stock offering that will likely be India's biggest ever.
Sources told Reuters in January that the IPO could be worth as much as $4 billion, though final numbers will only be decided later. In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion.
Here are the five largest Indian IPOs of all time before NSE and Jio Platforms:
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion Indian rupees ($2.95 billion) in October 2024 in India's largest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors expected to dilute their stakes.
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion Indian rupees from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion.
The shares slid nearly 8% on their debut.
PAYTM
Paytm PAYT.NS, India's fintech firm, raised 183 billion Indian rupees in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding to 16%.
Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history at the time.
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion Indian rupees in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India.
The shares listed at a slight premium of 1.23%.
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion Indian rupees in October 2025.
The IPO was oversubscribed 54 times - the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 - attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
($1 = 94.3800 Indian rupees)
(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by Aditya Kalra, Kate Mayberry and Kevin Buckland)
(([email protected];))
Updates to add IPO filing by NSE
MUMBAI, June 18 (Reuters) - The National Stock Exchange of India has filed draft papers for a long-delayed listing that will be one of two mega initial public offerings in the country this year, alongside billionaire Mukesh Ambani's Reliance Jio.
NSE's IPO is likely to be worth $3.3 billion, based on its share price in private markets, and comes after years of regulatory delays. Existing investors will sell 6% of the company's equity as part of the issue, which will be a pure offer-for-sale with no fresh equity being raised.
Ambani's AI-to-telecoms arm Reliance Jio Platforms is also gearing up for a stock offering that will likely be India's biggest ever.
Sources told Reuters in January that the IPO could be worth as much as $4 billion, though final numbers will only be decided later. In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion.
Here are the five largest Indian IPOs of all time before NSE and Jio Platforms:
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion Indian rupees ($2.95 billion) in October 2024 in India's largest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors expected to dilute their stakes.
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion Indian rupees from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion.
The shares slid nearly 8% on their debut.
PAYTM
Paytm PAYT.NS, India's fintech firm, raised 183 billion Indian rupees in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding to 16%.
Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history at the time.
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion Indian rupees in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India.
The shares listed at a slight premium of 1.23%.
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion Indian rupees in October 2025.
The IPO was oversubscribed 54 times - the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 - attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
($1 = 94.3800 Indian rupees)
(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by Aditya Kalra, Kate Mayberry and Kevin Buckland)
(([email protected];))
June 4 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - APPROVES DEFAULT LOSS GUARANTEE OF UP TO 900 MILLION RUPEES WITH EACH LENDING PARTNER
PAYTM - TO PROVIDE DEFAULT LOSS GUARANTEE OF UP TO 900 MILLION RUPEES TO MUTHOOT FINCORP, KISETSU SAISON FINANCE
Source text: ID:nBSEblL02s
Further company coverage: PAYT.NS
(([email protected];))
June 4 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - APPROVES DEFAULT LOSS GUARANTEE OF UP TO 900 MILLION RUPEES WITH EACH LENDING PARTNER
PAYTM - TO PROVIDE DEFAULT LOSS GUARANTEE OF UP TO 900 MILLION RUPEES TO MUTHOOT FINCORP, KISETSU SAISON FINANCE
Source text: ID:nBSEblL02s
Further company coverage: PAYT.NS
(([email protected];))
May 22 (Reuters) - India's Ambuja Cements, Tube Investments Of India, Colgate Palmolive Dropped From Bse 100 Index .BSE100:
INDIA'S ASHOK LEYLAND, PAYTM AND CG POWER AND INDUSTRIAL SOLUTIONS ADDED TO BSE 100 INDEX - BSE
BSE
BSE INDICES REJIG TO BE EFFECTIVE AT THE OPEN OF JUNE 22, 2026 - BSE
BSE INDICES REJIG TO BE EFFECTIVE AT THE OPEN OF JUNE 22, 2026 - BSE
Source text: [ID:]
Further company coverage: .BSE100
(([email protected];))
May 22 (Reuters) - India's Ambuja Cements, Tube Investments Of India, Colgate Palmolive Dropped From Bse 100 Index .BSE100:
INDIA'S ASHOK LEYLAND, PAYTM AND CG POWER AND INDUSTRIAL SOLUTIONS ADDED TO BSE 100 INDEX - BSE
BSE
BSE INDICES REJIG TO BE EFFECTIVE AT THE OPEN OF JUNE 22, 2026 - BSE
BSE INDICES REJIG TO BE EFFECTIVE AT THE OPEN OF JUNE 22, 2026 - BSE
Source text: [ID:]
Further company coverage: .BSE100
(([email protected];))
** Indian fintech firm Paytm's PAYT.NS shares rise 4.6% to 1,161 rupees
** Co swings to Q4 profit of 1.84 billion rupees from loss of 5.4 billion rupees a year earlier
** Co expects revenue growth in FY27 to be higher than the 22% delivered in FY26
** Expects margins to improve further in FY27
** Revenue from operations rose 18.4% to 22.64 billion rupees during the quarter
** Revenue growth was led by financial services and the revenue momentum can support earnings, Jefferies says
** Thirteen of 19 brokerages rate the stock "buy" or higher; their median PT is 1,382 rupees
** YTD, stock down 14.1%
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
** Indian fintech firm Paytm's PAYT.NS shares rise 4.6% to 1,161 rupees
** Co swings to Q4 profit of 1.84 billion rupees from loss of 5.4 billion rupees a year earlier
** Co expects revenue growth in FY27 to be higher than the 22% delivered in FY26
** Expects margins to improve further in FY27
** Revenue from operations rose 18.4% to 22.64 billion rupees during the quarter
** Revenue growth was led by financial services and the revenue momentum can support earnings, Jefferies says
** Thirteen of 19 brokerages rate the stock "buy" or higher; their median PT is 1,382 rupees
** YTD, stock down 14.1%
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
Adds details throughout
BENGALURU, May 6 (Reuters) - Indian fintech firm Paytm PAYT.NS said it expects to grow faster in fiscal 2027 than in the previous year, banking on gains in market share in merchant and consumer payments and growth in the distribution of its financial services.
The company also expects its margins to expand in the current financial year, helped by tight control on indirect expenses such as marketing and software costs.
"Revenue growth in FY 2027 expected to be higher than the 22% delivered in FY 2026 and indirect expenses will grow meaningfully slower than revenue," Paytm said in a statement.
Following the central bank-mandated curbs on its payments bank in 2024, the company has refocused on its broader payments and financial services distribution businesses, driving growth through a shift toward higher-quality merchants and more scalable, fee-based revenue streams.
The digital payments firm posted consolidated net profit of 1.84 billion rupees for the quarter ended March 31, compared with a loss of 5.4 billion rupees a year earlier.
In the year-ago quarter, its results were affected by a one-time expense on charges related to CEO Vijay Shekhar Sharma giving up his employee stock options.
Revenue from operations rose 18.4% to 22.64 billion rupees year-on-year, driven by a 21% increase in payments services and a 38% rise in financial services distribution revenue.
Contribution margin, a key profitability metric, stood at 55%, compared with 56% a year earlier.
However, profitability was impacted by the discontinuation of the Payments Infrastructure Development Fund (PIDF), a scheme by the Reserve Bank of India that subsidised deployment of payment devices.
Growth and profitability improved substantially, excluding the impact of the scheme, the company said.
Separately, the RBI last month cancelled Paytm Payments Bank's licence, citing persistent compliance lapses.
Paytm said the move has had no impact on its business or financials.
($1 = 94.6100 Indian rupees)
(Reporting by Nishit Navin and Surbhi Misra; Editing by Ronojoy Mazumdar and Shreya Biswas)
(([email protected];))
Adds details throughout
BENGALURU, May 6 (Reuters) - Indian fintech firm Paytm PAYT.NS said it expects to grow faster in fiscal 2027 than in the previous year, banking on gains in market share in merchant and consumer payments and growth in the distribution of its financial services.
The company also expects its margins to expand in the current financial year, helped by tight control on indirect expenses such as marketing and software costs.
"Revenue growth in FY 2027 expected to be higher than the 22% delivered in FY 2026 and indirect expenses will grow meaningfully slower than revenue," Paytm said in a statement.
Following the central bank-mandated curbs on its payments bank in 2024, the company has refocused on its broader payments and financial services distribution businesses, driving growth through a shift toward higher-quality merchants and more scalable, fee-based revenue streams.
The digital payments firm posted consolidated net profit of 1.84 billion rupees for the quarter ended March 31, compared with a loss of 5.4 billion rupees a year earlier.
In the year-ago quarter, its results were affected by a one-time expense on charges related to CEO Vijay Shekhar Sharma giving up his employee stock options.
Revenue from operations rose 18.4% to 22.64 billion rupees year-on-year, driven by a 21% increase in payments services and a 38% rise in financial services distribution revenue.
Contribution margin, a key profitability metric, stood at 55%, compared with 56% a year earlier.
However, profitability was impacted by the discontinuation of the Payments Infrastructure Development Fund (PIDF), a scheme by the Reserve Bank of India that subsidised deployment of payment devices.
Growth and profitability improved substantially, excluding the impact of the scheme, the company said.
Separately, the RBI last month cancelled Paytm Payments Bank's licence, citing persistent compliance lapses.
Paytm said the move has had no impact on its business or financials.
($1 = 94.6100 Indian rupees)
(Reporting by Nishit Navin and Surbhi Misra; Editing by Ronojoy Mazumdar and Shreya Biswas)
(([email protected];))
** Shares of Paytm parent One 97 Communications PAYT.NS fall 6.6% to 1,062 rupees, set for a fourth consecutive session of losses, if current trend holds
** Reserve Bank of India cancels licence for Paytm payments bank
** RBI says Paytm payments bank failed to comply with the conditions stipulated in the payments bank licence issued to it
** Adds "no useful purpose or public interest would be served" by allowing Paytm payments bank to continue
** Brokerage Bernstein says while the immediate impact on the core business and near-term estimates looks limited, the nature of the action and the language used in RBI's directive raise important concerns
** "We see risks that in future it may become harder for Paytm to obtain any potential licenses from RBI," brokerage BofA says
** YTD, PAYT down 11.7%
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
** Shares of Paytm parent One 97 Communications PAYT.NS fall 6.6% to 1,062 rupees, set for a fourth consecutive session of losses, if current trend holds
** Reserve Bank of India cancels licence for Paytm payments bank
** RBI says Paytm payments bank failed to comply with the conditions stipulated in the payments bank licence issued to it
** Adds "no useful purpose or public interest would be served" by allowing Paytm payments bank to continue
** Brokerage Bernstein says while the immediate impact on the core business and near-term estimates looks limited, the nature of the action and the language used in RBI's directive raise important concerns
** "We see risks that in future it may become harder for Paytm to obtain any potential licenses from RBI," brokerage BofA says
** YTD, PAYT down 11.7%
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
April 24 (Reuters) - The Reserve Bank of India on Friday said it has cancelled the banking licence issued to Paytm Payments Bank Limited.
(Reporting by Chandini Monnappa in Bengaluru; Editing by Shilpi Majumdar)
(([email protected]; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
April 24 (Reuters) - The Reserve Bank of India on Friday said it has cancelled the banking licence issued to Paytm Payments Bank Limited.
(Reporting by Chandini Monnappa in Bengaluru; Editing by Shilpi Majumdar)
(([email protected]; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
April 15 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - PAYTM BECOMES INDIAN OWNED AND CONTROLLED COMPANY
Source text: ID:nBSEbQBSJ4
Further company coverage: PAYT.NS
(([email protected];))
April 15 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - PAYTM BECOMES INDIAN OWNED AND CONTROLLED COMPANY
Source text: ID:nBSEbQBSJ4
Further company coverage: PAYT.NS
(([email protected];))
March 11 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - NPCI REVISES TPAP AND PAYER PSP FEES FOR RUPAY CREDIT CARD ON UPI EFFECTIVE APRIL 1, 2026
PAYTM - TPAP FEE FOR RUPAY CREDIT CARD ON UPI REDUCED TO 6 BPS NON INDUSTRY, 3 BPS INDUSTRY
PAYTM - CIRCULAR HAS NO IMPACT ON MERCHANT ACQUIRING REVENUE
PAYTM - CIRCULAR DOES NOT HAVE ANY IMPACT ON MERCHANT MDR
Source text: ID:nBSE1rbhC6
Further company coverage: PAYT.NS
(([email protected];;))
March 11 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - NPCI REVISES TPAP AND PAYER PSP FEES FOR RUPAY CREDIT CARD ON UPI EFFECTIVE APRIL 1, 2026
PAYTM - TPAP FEE FOR RUPAY CREDIT CARD ON UPI REDUCED TO 6 BPS NON INDUSTRY, 3 BPS INDUSTRY
PAYTM - CIRCULAR HAS NO IMPACT ON MERCHANT ACQUIRING REVENUE
PAYTM - CIRCULAR DOES NOT HAVE ANY IMPACT ON MERCHANT MDR
Source text: ID:nBSE1rbhC6
Further company coverage: PAYT.NS
(([email protected];;))
IPO expected to raise $900 million-$1.05 billion, sources say
Walmart to trim stake; Microsoft, Tiger Global to exit
PhonePe processed nearly half of UPI payments in Jan, data show
By Jaspreet Kalra
MUMBAI, March 4 (Reuters) - Walmart-backed Indian fintech firm PhonePe PHOP.NS, the country's most used payments platform, is aiming to list at a valuation of between $9 billion and $10.5 billion, two people with direct knowledge of the matter said.
That suggests the IPO will raise about $900 million to $1.05 billion. But even at the top end, the deal would mark a cut from the $12 billion valuation at which PhonePe last raised $100 million in private markets in 2023.
Walmart WMT.N will trim its stake in PhonePe by about 12% in the firm's initial public offering, while Tiger Global and Microsoft MSFT.O plan to exit their stakes, according to the firm's IPO filing.
The three firms will sell around 50.7 million shares in the offering and PhonePe will not issue any new shares.
PhonePe, which competes with Google Pay and Paytm PAYT.NS in India, filed for its IPO in September and aims to complete the process by April, one of the sources said, although the timeline could shift depending on capital market conditions, including any impact from the Middle East conflict.
Both sources requested anonymity as the discussions are confidential. PhonePe, Walmart, Tiger Global, and Microsoft did not immediately respond to emails seeking comment.
The expected valuation of PhonePe, which means "on the phone" in Hindi, and timing of the issue have not been previously reported.
PhonePe's listing would make it India's second-largest fintech IPO, behind Paytm's about $20 billion listing in 2021.
Paytm currently trades at a market capitalization of $7.1 billion.
'MONETISATION REMAINS A QUESTION MARK'
PhonePe has more than 650 million registered users and processed nearly 10 billion of the 21.7 billion transactions on India's unified payments interface (UPI) in January, regulatory data showed. But payments in India remain a low-margin business.
India launched UPI in 2016 and barred companies from charging fees for the instant payment service to spur digital payments and reduce cash use in Asia's No.3 economy.
PhonePe's losses widened to 14.44 billion rupees ($158 million) in the six months ended September 30, from 12.03 billion rupees a year ago, while revenue rose about 22% to 39.18 billion rupees, the firm's IPO filing showed.
Two portfolio managers, who met the company's management in pre-IPO roadshows, said excitement around the country's fintech sector had cooled and that there were lingering questions around PhonePe's ability to monetise its user base - a key reason it may not achieve a valuation closer to its last funding round.
"Monetisation remains a question mark. Active users aren't growing at the same pace so the game is all about upsell and that remains to be seen," one of the portfolio managers said.
Investors also see India's fintech market as overcrowded with little differentiation among players, said a third source, a banker to the issue.
These sources also spoke on the condition of anonymity as they were not authorized to speak to media.
($1 = 92.1730 Indian rupees)
(Reporting by Jaspreet Kalra in Mumbai; additional reporting by Gopika Gopakumar in Mumbai; Editing by Himani Sarkar)
(([email protected]; +91-8769636545;))
IPO expected to raise $900 million-$1.05 billion, sources say
Walmart to trim stake; Microsoft, Tiger Global to exit
PhonePe processed nearly half of UPI payments in Jan, data show
By Jaspreet Kalra
MUMBAI, March 4 (Reuters) - Walmart-backed Indian fintech firm PhonePe PHOP.NS, the country's most used payments platform, is aiming to list at a valuation of between $9 billion and $10.5 billion, two people with direct knowledge of the matter said.
That suggests the IPO will raise about $900 million to $1.05 billion. But even at the top end, the deal would mark a cut from the $12 billion valuation at which PhonePe last raised $100 million in private markets in 2023.
Walmart WMT.N will trim its stake in PhonePe by about 12% in the firm's initial public offering, while Tiger Global and Microsoft MSFT.O plan to exit their stakes, according to the firm's IPO filing.
The three firms will sell around 50.7 million shares in the offering and PhonePe will not issue any new shares.
PhonePe, which competes with Google Pay and Paytm PAYT.NS in India, filed for its IPO in September and aims to complete the process by April, one of the sources said, although the timeline could shift depending on capital market conditions, including any impact from the Middle East conflict.
Both sources requested anonymity as the discussions are confidential. PhonePe, Walmart, Tiger Global, and Microsoft did not immediately respond to emails seeking comment.
The expected valuation of PhonePe, which means "on the phone" in Hindi, and timing of the issue have not been previously reported.
PhonePe's listing would make it India's second-largest fintech IPO, behind Paytm's about $20 billion listing in 2021.
Paytm currently trades at a market capitalization of $7.1 billion.
'MONETISATION REMAINS A QUESTION MARK'
PhonePe has more than 650 million registered users and processed nearly 10 billion of the 21.7 billion transactions on India's unified payments interface (UPI) in January, regulatory data showed. But payments in India remain a low-margin business.
India launched UPI in 2016 and barred companies from charging fees for the instant payment service to spur digital payments and reduce cash use in Asia's No.3 economy.
PhonePe's losses widened to 14.44 billion rupees ($158 million) in the six months ended September 30, from 12.03 billion rupees a year ago, while revenue rose about 22% to 39.18 billion rupees, the firm's IPO filing showed.
Two portfolio managers, who met the company's management in pre-IPO roadshows, said excitement around the country's fintech sector had cooled and that there were lingering questions around PhonePe's ability to monetise its user base - a key reason it may not achieve a valuation closer to its last funding round.
"Monetisation remains a question mark. Active users aren't growing at the same pace so the game is all about upsell and that remains to be seen," one of the portfolio managers said.
Investors also see India's fintech market as overcrowded with little differentiation among players, said a third source, a banker to the issue.
These sources also spoke on the condition of anonymity as they were not authorized to speak to media.
($1 = 92.1730 Indian rupees)
(Reporting by Jaspreet Kalra in Mumbai; additional reporting by Gopika Gopakumar in Mumbai; Editing by Himani Sarkar)
(([email protected]; +91-8769636545;))
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By Hudson Lockett
HONG KONG, March 2 (Reuters Breakingviews) - Initial public offerings often lean on growth potential in their sales pitch, but the one made by PayPay looks particularly ambitious. The Japanese payments and credit card provider is selling itself in its U.S. listing prospectus as a future one-stop finance super app. Hitting a $20 billion valuation sought by SoftBank Group 9984.T founder Masayoshi Son will require convincing investors the firm is primed to become much greater than the sum of its parts.
The business, which turned profitable in 2025, does have promise: monthly active users rose more than 10% to 40 million in the year to December 31, with 11 million actively using the company’s credit cards. Its performance over the last nine months of 2025 points to annualised revenue of 371 billion yen ($2.4 billion) for the fiscal year ending March 31, up almost a quarter year-on-year. Pretax net profit margin came in at 21.9% for the nine-month period, up from 12.6% in 2024.
At Son's hoped-for valuation, PayPay would be worth 8.4 times its sales, five times the multiple carried by U.S. peer PayPal PYPL.O—which is itself on the M&A radar of payments firm Stripe, per Bloomberg. It’s logical, then, for PayPay to play up a “broader mission of offering a comprehensive digital finance experience” with presumably juicier margins.
Results from PayPay’s cross-promotion between payments, cards and banking show promise: average monthly transactions by users with both an e-wallet and card stood at almost 67,000 yen in the 2025 fiscal year—nearly triple the users of the app alone—with bank users’ monthly average rising to 136,000 yen. And PayPay’s code payments and cards now account for over 10% of digital payments in Japan, behind the 17% market share of rival Rakuten’s credit card business, Pujance Chan, an equity analyst at Morningstar, estimates.
Chan reckons there is still room for PayPay users to grow, especially if accounts are allowed to merge with those of SoftBank-backed messaging app Line, which boasts over 100 million monthly active users in Japan. Yet Line’s history of large-scale data breaches has raised regulatory hurdles for any such linkup. In India, supervisory concerns have hurt the broader financial ambitions of Paytm of One97 Communications PAYT.NS.
Beyond compliance risk, there is the fact that PayPay’s financial services segment, made up of its banking and securities units, accounted for only 16.3% of consolidated operating profit in the final nine months of 2025. Explaining how the firm can swiftly boost that share without tripping regulatory wires would make a stronger case for its super app ambitions.
Follow Hudson Lockett on Bluesky and X.
CONTEXT NEWS
PayPay, the SoftBank Group-backed Japanese payments app, is set to receive more than $200 million from a group of cornerstone investors, including Qatar Holdings, Visa and the Abu Dhabi Investment Authority, as part of its U.S. initial public offering, Reuters reported on February 28, citing two unnamed sources.
PayPay filed paperwork for its IPO on February 12. Bloomberg reported on the same day that the firm is seeking a valuation of more than $10 billion, with SoftBank founder Masayoshi Son pushing for up to double that amount, according to unnamed sources.
Payments and credit cards are PayPay's bread and butter https://www.reuters.com/graphics/BRV-BRV/gkvlkmyggpb/chart.png
(Editing by Una Galani; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on LOCKETT/ [email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By Hudson Lockett
HONG KONG, March 2 (Reuters Breakingviews) - Initial public offerings often lean on growth potential in their sales pitch, but the one made by PayPay looks particularly ambitious. The Japanese payments and credit card provider is selling itself in its U.S. listing prospectus as a future one-stop finance super app. Hitting a $20 billion valuation sought by SoftBank Group 9984.T founder Masayoshi Son will require convincing investors the firm is primed to become much greater than the sum of its parts.
The business, which turned profitable in 2025, does have promise: monthly active users rose more than 10% to 40 million in the year to December 31, with 11 million actively using the company’s credit cards. Its performance over the last nine months of 2025 points to annualised revenue of 371 billion yen ($2.4 billion) for the fiscal year ending March 31, up almost a quarter year-on-year. Pretax net profit margin came in at 21.9% for the nine-month period, up from 12.6% in 2024.
At Son's hoped-for valuation, PayPay would be worth 8.4 times its sales, five times the multiple carried by U.S. peer PayPal PYPL.O—which is itself on the M&A radar of payments firm Stripe, per Bloomberg. It’s logical, then, for PayPay to play up a “broader mission of offering a comprehensive digital finance experience” with presumably juicier margins.
Results from PayPay’s cross-promotion between payments, cards and banking show promise: average monthly transactions by users with both an e-wallet and card stood at almost 67,000 yen in the 2025 fiscal year—nearly triple the users of the app alone—with bank users’ monthly average rising to 136,000 yen. And PayPay’s code payments and cards now account for over 10% of digital payments in Japan, behind the 17% market share of rival Rakuten’s credit card business, Pujance Chan, an equity analyst at Morningstar, estimates.
Chan reckons there is still room for PayPay users to grow, especially if accounts are allowed to merge with those of SoftBank-backed messaging app Line, which boasts over 100 million monthly active users in Japan. Yet Line’s history of large-scale data breaches has raised regulatory hurdles for any such linkup. In India, supervisory concerns have hurt the broader financial ambitions of Paytm of One97 Communications PAYT.NS.
Beyond compliance risk, there is the fact that PayPay’s financial services segment, made up of its banking and securities units, accounted for only 16.3% of consolidated operating profit in the final nine months of 2025. Explaining how the firm can swiftly boost that share without tripping regulatory wires would make a stronger case for its super app ambitions.
Follow Hudson Lockett on Bluesky and X.
CONTEXT NEWS
PayPay, the SoftBank Group-backed Japanese payments app, is set to receive more than $200 million from a group of cornerstone investors, including Qatar Holdings, Visa and the Abu Dhabi Investment Authority, as part of its U.S. initial public offering, Reuters reported on February 28, citing two unnamed sources.
PayPay filed paperwork for its IPO on February 12. Bloomberg reported on the same day that the firm is seeking a valuation of more than $10 billion, with SoftBank founder Masayoshi Son pushing for up to double that amount, according to unnamed sources.
Payments and credit cards are PayPay's bread and butter https://www.reuters.com/graphics/BRV-BRV/gkvlkmyggpb/chart.png
(Editing by Una Galani; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on LOCKETT/ [email protected]))
Feb 10 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - IRDAI RENEWED IRDAI INSURANCE BROKING LICENSE OF PAYTM INSURANCE BROKING
Further company coverage: PAYT.NS
(([email protected];))
Feb 10 (Reuters) - One 97 Communications Ltd PAYT.NS:
PAYTM - IRDAI RENEWED IRDAI INSURANCE BROKING LICENSE OF PAYTM INSURANCE BROKING
Further company coverage: PAYT.NS
(([email protected];))
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Popular questions
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What does One97 Communications do?
One 97 Communications (Paytm) is in the business of providing a) payment and financial services which primarily includes payment facilitator services, facilitation of consumer and merchant lending to consumers and merchants, wealth management etc. b) marketing services which primarily consists of aggregator for digital products, ticketing business, providing voice and messaging platforms to the telecom operators and enterprise customers and other businesses, etc.
Who are the competitors of One97 Communications?
One97 Communications major competitors are PB Fintech, One Mobikwik Systems, AvenuesAI, Algoquant Fintech. Market Cap of One97 Communications is ₹1,14,957 Crs. While the median market cap of its peers are ₹3,595 Crs.
Is One97 Communications financially stable compared to its competitors?
One97 Communications seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does One97 Communications pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. One97 Communications latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has One97 Communications allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is One97 Communications balance sheet?
Balance sheet of One97 Communications is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of One97 Communications improving?
Yes, profit is increasing. The profit of One97 Communications is ₹651 Crs for TTM, ₹553 Crs for Mar 2026 and -₹659 Crs for Mar 2025.
Is the debt of One97 Communications increasing or decreasing?
The net debt of One97 Communications is decreasing. Latest net debt of One97 Communications is -₹26,050 Crs as of Mar-26. This is less than Mar-25 when it was -₹23,109 Crs.
Is One97 Communications stock expensive?
Yes, One97 Communications is expensive. Latest PE of One97 Communications is 173, while 3 year average PE is 36.15. Also latest EV/EBITDA of One97 Communications is 158 while 3yr average is 23.06.
Has the share price of One97 Communications grown faster than its competition?
One97 Communications has given better returns compared to its competitors. One97 Communications has grown at ~47.19% over the last 1yrs while peers have grown at a median rate of -9.0%
Is the promoter bullish about One97 Communications?
There is Insufficient data to gauge this.
Are mutual funds buying/selling One97 Communications?
The mutual fund holding of One97 Communications is increasing. The current mutual fund holding in One97 Communications is 17.94% while previous quarter holding is 16.6%.