ANT FINANCIAL PAYTM STAKE
Paytm gets government panel nod to invest in payments arm, sources say
The approval still has to be vetted by the finance ministry, which will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations. Paytm Payment Services is one of the biggest remaining parts of the fintech firm's business.
Financial audit, top-deck rejig at Medikabazaar; GCCs woo more techies
A financial audit and top-level reshuffle are in the works at business-to-business (B2B) startup for medical supplies Medikabazaar. Details on this and more in today’s ETtech Morning Dispatch.
Global firms buy PB Fintech stakes from early backers
Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares, in full or in part, in multiple tranches. These transactions happened through bulk deals when several early-stage investors of the company exited the firm fully or partly after 2021, when it went public.
Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
Bulls in Action: Sensex jumps over 200 points, Nifty crosses 23,600; mid and smallcaps outperform
Within the Nifty pack, UltraTech Cement, HDFC Bank, Divi's Lab, Coal India, and SBI were the top gainers while HCL Tech, Asian Paints, and Titan faced selling pressure. Shares of new-age companies like Paytm, Zomato, and Policybazaar traded higher by around 2% each after Morgan Stanley's bullish note.
IPO market picks up after two years of slowdown; is it the right time to invest in IPOs?
Are you also planning to invest in the upcoming IPOs? Brokerages often express bullish views on IPOs because increased investor participation benefits their business. However, take their advice with a pinch of salt. Here are a few things to keep in mind before you invest
- Go To Page 1
Stocks in news: Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma
Domestic markets start positively with Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma in focus. ZEE appoints acting CFO. Tata Technologies partners with Microsoft. Wabco to sell ZF equity. Craftsman Automation launches QIP. Fosun Pharma reduces stake. Vedanta monetises steel business. Goldman Sachs sells One 97 shares; Vodafone sells Indus Towers shares; Generative AI hackathon.
Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 2,000 crore
Zomato’s interest in acquiring Paytm's events and movie ticketing business is in line with the Gurgaon-based company's efforts towards capturing consumer demand across categories like food, grocery and entertainment. If the transaction goes through, it will be the second biggest acquisition for Zomato after it acquired quick commerce platform Blinkit in 2022 in an all-stock deal for Rs 4,447 crore.
Stocks in news: Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
NCLT directs Byju’s to maintain status quo; ETtech Done Deals
NCLT has asked Byju's to maintain status quo in its shareholding, pausing its controversial rights issue, this and more in today’s ETtech Top 5.
Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co
Gautam Adani, chairman of the Adani Group, is reportedly looking into acquiring a stake in One97 Communications, the parent company of Paytm, according to sources cited by The Times of India. Paytm's founder and CEO, Vijay Shekhar Sharma, met with Adani in Ahmedabad to discuss the details of the potential deal.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
Paytm withdraws general insurance licence application; to focus on distribution-only model
Troubled fintech Paytm will increase focus on insurance distribution. It had earmarked Rs 950 crore to invest in the entity applying for the general insurance licence but it now expects to conserve that cash. The Noida-headquartered company will focus on distributing small ticket-size insurance products such as life, health, motor, shop and gadgets.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Draft digital competition bill will make business untenable: IAMAI
Ex-ante regimes tell businesses precisely how to behave, or what to do. Under the current ex-post regime of the Competition Act, companies are only required to ensure that their conduct in the market is not anti-competitive. An overlapping ex-ante regime proposed under the digital competition Bill will force tech companies to comply with parallel legislation and undertake measures for additional compliance, the IAMAI said.
Mutual funds, foreign portfolio investors increase stake in Paytm
Mutual funds expanded their shareholding in the March quarter to 6.15% from 4.9% in December 2023. Mirae Mutual Fund and Nippon India Mutual Fund have acquired more shares in Paytm in these three months.
AntFin sells 2% stake in Zomato via open market for Rs 2,828 crore
AntFin entity AntFin Singapore Holding Pte sold 176,395,675 shares of Zomato at an average price of Rs 160.3 a share, bulk deals data on BSE showed. As of December end, AntFin Singapore Holding Pte Ltd held a 6.32% stake in the quick commerce services provider.
Zomato shares fall 4% as Ant likely sells Rs 3,000 crore worth stake in block deal
Zomato shares fell 3.6% on BSE after Ant Financial, an Alibaba-affiliate, sold a 2% stake at a 5% discount. CLSA revised target price for Zomato. The company reported a quarterly net profit of Rs 138 crore with a 69% increase in revenue from operations.
Ant Financial likely to sell 2% stake in Zomato for Rs 2,800 crore via block deal: Report
It plans to sell 176.4 million shares of Zomato that could fetch around Rs 2,810 crore, reports said. The floor price for the stake sale is set at Rs 159.4, which is a discount of nearly 5% from the current market price.
SoftBank sells another 2% stake in Paytm
SoftBank Group Corp has sold a stake of 2.17% in beleaguered Indian payments firm Paytm, an exchange filing showed on Thursday.
Paytm shares jump another 5%. What's working in Vijay Shekhar Sharma's favour?
The Reserve Bank of India has allowed Paytm to transfer its IPO-based payments business from Paytm Payments Bank to 4-5 other banks. It has also directed the National Payments Corporation of India or NPCI, the operator of the UPI platform, to examine the fintech's request to become a third-party application provider (TPAP) for the UPI channel. Getting NCPI’s approval will allow the app to continue offering UPI-based payment services.
SoftBank sheds Paytm stake; NFT investors decry Rario shutdown
SVF Holdings (Cayman) Ltd, a SoftBank entity, sold 12.7 million equity shares of Paytm between December 19, 2023 and January 24, according to a stock exchange filing by SoftBank.
Kuwait, Singapore sovereign funds place orders for Zomato share
Food delivery platform Zomato has seen large sovereign investors from jurisdictions such as Kuwait and Singapore raising their stakes in the company. While Kuwait Investment Authority bought 88 million shares in Zomato in the September quarter, Singapore government bought 95 million shares in the company in the December quarter.
Paytm founder Vijay Shekhar Sharma looking to raise stake
"There is never a day that I would not buy more equity in Paytm," Sharma told Bloomberg News in an interview on Monday. "The single largest shareholder of Paytm is now an Indian, that is myself, and I believe this is definitely a key milestone."
Will buy Paytm shares at any given opportunity: Vijay Shekhar Sharma
Earlier, Sharma's Resilient Asset Management had bought Ant Financial's 10.3% stake in Paytm.
China’s Antfin transfers 10.3% stake in Paytm for debentures in Vijay Shekhar Sharma-owned entity
The Paytm founder, through a holding entity, has converted Antfin’s shareholding of around 10.3% in his company to optionally convertible debentures, expanding his stake to 20%.
Paytm shares jump over 11% as Vijay Shekhar Sharma buys 10.3% stake from AntFin
Under the agreement, AntFin will be issued OCDs by Resilient Asset Management BV in consideration for the transfer, and to retain the economic value, the filing said. The new ownership structure will likely benefit the company, Paytm further claimed.
Load More
