Vijay Shekhar Sharma’s stake in Paytm, both direct and indirect, will increase to 19.42 per cent on the closing of this transaction whereas Antfin’s stake will reduce to 13.5 per cent
Despite the jump in revenue its loss widened in June quarter to Rs 645 crore from Rs 382 crore during the same period last year
Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely bullish about its potential
Paytm and its peers have risen even as shares of the country's old guard of IT service providers, such as Tata Consultancy Services Ltd. and Infosys Ltd., have fallen due to concerns about global economic weakness
This move enables the company to create a long-term sustainable business in partnership with ONDC
Sharma said that the estimates are well ahead of estimates by most analysts.
Sources said Paytm in all probability will use its pre-IPO cash reserves for the buyback and in the near future, it will start using the generated cash flow for its expansion
Macquarie has cut the target price by 36 per cent for Paytm parent company One97 Communication, which is already facing heat from RBI restrictions and investors’ wrath.
Shares of One97 Communications, the parent of financial technology firm Paytm, plunged as much as 13.25 per cent to hit record low of Rs 672
