The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
Paytm has, since November 8, been on an overdrive, rolling out a series of features on its app including multi-language options for a no-holds barred access across the country. The company is now planning to make Paytm available on all types of mobile phones, going much beyond smartphones.
Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
One97 Communications, which owns Paytm, was awarded the title sponsorship rights for India's international home cricket matches for four years after a winning bid of Rs 2.42 crore per match.
Paytm, which recently hived off its e-commerce and payments bank businesses into separate companies, would use these fresh funds to bolster the two businesses
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
A December 28 board meeting of the Securities and Exchange Board of India (Sebi) may tighten norms for initial public offerings (IPOs). The board may look to prescribe a minimum 5 per cent gap in IPO price bands, extend the lock-in period for anchor investors to 90 days and cap the amount a majority investor can sell through offer for sale. The regulator is looking at whether there can be a preferred allocation for anchor investors who opt for a longer lock-in period, said a person familiar with the matter.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing.
It aims to grow gross merchandise value to Rs 19,000-25,500 crore.
His investment in Paytm is in his personal capacity.
Jobs requiring AI skills carry a significant wage premium, with some roles offering up to a 25 per cent increase in wages, notes Manoj Nagpal, vice president, professional services, OpenText, an information management company.
Alibaba is playing a big role in helping to train the senior management of the upcoming Paytm Payment Bank
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said. Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
Foreign portfolio investors (FPIs) and mutual funds (MFs) have put in more money as anchor investors in initial public offerings (IPOs) in 2021 than any other year. FPIs' share of investments for the year stood at Rs 24,477 crore, nearly six times that put in last year and more than nine times the amount invested in 2019, the data from Prime Database showed. MFs have invested Rs 12,264 crore, four times than that invested last year and more than 10 times the investment in 2019. The total investment by FPIs and MFs put together this year is five times the amount invested last year. The amount contributed by MFs, however, is nearly half of that invested by FPIs.
rediffGURU Nayagam PP counsels students on how to pick the right course and career.
Nandan Nilekani, Gokul Rajaram at top two spots in value terms
Year 2021 was another great year for fund-raising through equities. A total of Rs 1.8 trillion was raised through initial public offerings (IPOs), qualified institutional placements (QIPs), and rights issues, against the Rs 1.7 trillion raised in the previous year. Funds raised through IPOs quadrupled, while those from rights issues and QIPs reduced.
Total investments in the first six months of 2017 was a record $11.34 billion
As it readies for its initial public offering (IPO) later this year, digital payments firm Paytm is honing its strengths to remodel itself from being a payment wallet to becoming a financial services provider, and is working towards narrowing its losses, evident from its most recent Annual Report. Unlike many of its peers, Paytm has started expanding its merchant payment ecosystem. It has realised that though it can take the maximum share of the Unified Payment Interface (UPI) transactions, from a revenue generation point of view it will not have any impact.
Paytm plans to launch mutual funds, insurance and banking services and s also providing the option to transact offline with a physical debit card
Nivedita Mookerji finds out how Paytm CEO Vijay Shekhar Sharma is handling his soaring popularity after the note ban as well as the criticism that comes as a package deal.
'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
Private Equity investment in Q1, 2015 witnessed a year- on-year jump of 30 per cent to $2.6 billion.
'India has tremendous potential for digital ventures,' says Ratan Tata.
Pakistan on Sunday appointed former Australia pace bowler Gillespie as coach of the men's Test side
Of the 59 IPOs for which the data is available, 36 IPOs received mega responses of more than 10x (of which, six IPOs more than 100x), while eight IPOs were oversubscribed more than 3x.
The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021, which is nearly 4.5 times more than the Rs 26,613 crore raised through 15 issues in 2020 and almost double of the previous best of Rs 68,827 crore in 2017, according to a report. Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation, and the resultant massive listing gains were the key highlights of the year. Another highlight was only 51 per cent or Rs 103,621 crore of the total Rs 202,009 crore was fresh capital raising and the remaining Rs 98,388 crore were offers for sale.
Using the app, bank transfers can be done from/to any bank account, making it easier to make payments at no charge. Even non-KYC Paytm users can avail the facility.
Stressing that every question paper has been "accounted for", the NTA said that purported images of the question paper circulating on social media have no relation with the actual paper.
'And here I was, walking as a showstopper. I couldn't have imagined a more beautiful gift.'
Alibaba Group Holdings Ltd may scrap plans to invest in online marketplace Snapdeal, technology website Recode has reported.
The firm will invest over Rs 1,000 crore in marketing, cash backs and promotional spends
Paytm's secondary share sale gave an opportunity to its employees - both former and current - to liquidate their vested Esops and earn around Rs 500 crore in total.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
