![]() It also houses the company’s insurance broking and credit business along with other subsidiaries. One 97 Communications currently houses the company’s movie and travel ticketing business its wealth management platform, Paytm Money its online payment gateway business, Paytm Payment Gateway, along with its offline point-of-sale business. ajay shekhar sharma brother of paytms founder and ceo vijay shekhar sharma has been promoted as the chief business officer cbo ahead of the companys. Founder Vijay Shekhar Sharma’s stake stands at 14.67% in the company. The IPO will also give a liquidity event for long-term shareholders as they look to offer a portion of their stake to retail investors.Īt present, Alibaba Group Holding Ltd and its payments arm ANT Financial hold almost 37% stake in the payments major, while Softbank through its Softbank Vision Fund and Elevation Capital (formerly SAIF Partners) hold almost 20% stake each in the entity. It is in the final stages to appoint bankers and is in talks with Axis Capital, ICICI Securities, and SBI Capital Markets, along with JP Morgan, CitiGroup and Morgan Stanley, to kickstart the IPO process. The company is expected to take a qualified institutional buyers (QIB) route to list, where it will raise primary funds from a fresh issue of shares to QIBs, as per norms of the Securities and Exchange Board of India (Sebi), sources told Mint. Pleased to announce that we have successfully exited CreditMate. Aditya Singh posted it in a LinkedIn post. The creators of CreditMate have sold their stake to Paytm, cofounder and chief commercial officer Mr. Last week, Mint first reported that the company was looking to raise $1billion-$1.5 billion as part of the primary share sale, during its initial public offering (IPO) worth at least $3 billion. IPO-bound digital payments firm Paytm acquired a 100 stake in digital lending startup CreditMate for an undisclosed amount. The company, which is gearing up for its public debut by November-end this year, is expected to file its draft red herring prospectus (DRHP) by July, and conduct investor roadshows by August for its pre-IPO fundraise. Shares of One97 Communications, parent company of digital payments major Paytm, dropped 12.3 per cent on Tuesday, extending its two-day slide to 24 per cent. In January, this year, Paytm founder Vijay Shekhar Sharma had given guidance that the company could potentially look to break even in 2021, with profitability in sight. Stock slips 12.3 on Tuesday to end at a new low of Rs 592, as RBI ban on Paytm Payments Bank from onboarding new customers last Friday weighs. ![]() "Despite a significant disruption in the business of our merchant partners due to the ongoing pandemic, especially in the first half of the year - we have had a minimal impact on revenues, due to strong recovery in the second half of the year," said a Paytm spokesperson, replying to Mint’s queries.Īs Paytm reduces burn, its losses continue to be a matter of concern during its listing process. ![]()
0 Comments
Leave a Reply. |