PAYTM EXPENSES
Ecom Express sets the ball rolling for Rs 3,000-crore IPO
Third-party logistics firm Ecom Express is looking to list on the public markets to raise Rs 3,000 crore, two people aware of the development told ET. The Warburg Pincus-backed company has appointed bankers Kotak Capital, IIFL, Axis Capital, and UBS to take forward the process.
Ecom Express sets the ball rolling for Rs 3,000-cr IPO
"Ecom Express has initiated the process for the public issue, which includes both a fresh issue and an offer for sale from the existing investors. The company is likely to file its draft red herring prospectus soon," said one of the people cited above.
Deven Choksey on one sub-sector to be bullish on in run up to Budget
Maybe for buying the deep value investment opportunity, we will have to see a correction in the market. If at all it comes, that would be a good opportunity to buy into it. But otherwise, I maintain that I think, yes, the fundamental is not doubted. The current valuations are not comforting.
Paytm reports almost flat growth in UPI payments in May
After RBI restricted Paytm Payments Bank, the UPI transactions on the Paytm app fell. This is the first month the fall has been arrested since February. In terms of the share of UPI payments by volume, Paytm stood at around 8.1% in May — almost at the same level as the previous month.
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.
Expect 15-18% upside in Sun Pharma over medium to long term: Hemang Jani
Sun Pharma numbers were slightly below expectations in terms of EBITDA and we do think that though they have guided for a very strong growth through their speciality portfolio, that is a little bit time away.
- Go To Page 1
Paytm expects near-term impact on revenue, profitability due to regulatory action: Vijay Shekhar Sharma
Paytm’s parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.
Paytm witnesses slowdown in core businesses of merchant payments, consumer lending
In the first four months of 2024, Paytm’s user base shrank by 24% to 80 million, while the count of its active devices dropped by about 1 million over February and March on account of attrition, according to its quarterly filings with the stock exchanges. User attrition happened as a result of regulatory action by the RBI, it said.
Markets peak on optimism, not on relative pessimism: Deepak Shenoy
It seems to be, but people seem to still be very scared. Everybody I am talking about is little worried that the markets will fall or that they have reached a peak and there is so much high. So, I think the problem is markets peak on optimism, not on relative pessimism, like we see today.
Paytm UPI Lite Wallet: No PIN required, add up to Rs 4,000 daily in wallet, per transaction limit, how to use
Paytm UPI Lite Wallet approach helps users manage their small daily expenses efficiently, without the hassle of multiple entries in their bank passbooks, with no PIN requirement, ensuring an organized and simplified financial tracking.
Mukesh Bansal’s Cultfit gets new CEO; Google unveils Arm-based chip
Cultfit has formally appointed Naresh Krishnaswamy as CEO. Details on this and more in today’s ETtech Top 5.
UPI rule change: Soon use money in PhonePe, Amazon Pay, any wallet to pay via Paytm, other UPI apps; check RBI new rule
UPI rule change for PPIs: Currently, money in your prepaid wallet (like PhonePe) can only be used for UPI transactions through the app offered by the wallet issuer itself. This limits your options — you can't use PhonePe money on Paytm or BHIM, for example. To address this, the Reserve Bank of India (RBI) has proposed allowing users to link their prepaid payment instrument such as wallets with any third-party UPI app. This means greater flexibility. What changes for UPI customers? How is this move going to help you?
Processing charges a drag on fast-growing payments startups
Digital payment startups are facing rising payment processing charges despite revenue growth, impacting profitability. High operation costs persist due to fees charged by network operators and system maintenance expenses.
Ecommerce firm POP to launch marketplace for D2C brands with its own UPI
The company said it aims to build this D2C marketplace via a no-frills approach, enabling brands to benefit from deeper data and insights as well as POPcoins.
Governance at Scale: Learning from Paytm's saga and building sustainable startups
Many firms pursue the elusive "hockey stick" growth curve, putting rapid user acquisition and market share ahead of strong governance standards.
View: Sebi & RBI's hyperactivity catches market by surprise; but it's for restoring credibility
Recent hyperactivity at India’s banking regulator and securities watchdog surprises the market. Commercial lenders are accused of concealing bad loans, while investment banks under scrutiny for pushing IPOs past the line using mule accounts. Fintech firms in Bengaluru and traditional finance industry in Mumbai are feeling the regulatory pressure.
IPL 2024 CSK vs RCB tickets: Check how to buy, prices, process and other key details
IPL 2024 tickets for the RCB vs. CSK match are on sale. The tournament features ten teams, with CSK and Mumbai Indians having the most IPL wins. Grab your tickets, witness the action, and support your favorite team!
Banks, fintechs eye Paytm’s staff benefits business
Paytm's exit from the employee benefits market has opened up opportunities for rivals like Pluxee and Zaggle, as well as banks like Kotak Mahindra, Yes Bank, ICICI Bank, and IndusInd Bank.
Paytm bank RBI Ban: Indian fintech is fast, furious — and fraudulent?
The Reserve Bank of India has taken regulatory action against Paytm and Visa Inc., and more nonbank intermediaries may be targeted. The growth of neo-banking in India has increased the risk of fraud. KYC regulations and digital payments face challenges, and nodal accounts are used for real-time processing.
ED probe likely for Paytm; BharatPe gets MCA notice
Troubled fintech Paytm faces a potential probe by the Enforcement Directorate after the central bank flagged concerns, sources told ET. This and more in today’s ETtech Morning Dispatch.
The week that was: Hope and despair on Startup St., and other top tech stories
But if there’s one thing that has come to the fore this week, it's compliance and governance issues at startups. When companies are in the nascent stage they can get lax on setting up internal controls, but once you scale it becomes a different proposition altogether.
Byju’s alleges investor conspiracy; Delhivery turns profitable
Facing calls for a management overhaul at the troubled edtech firm, a combative Byju’s has asserted that investors lack the authority to remove its CEO. More on this in today’s ETtech Top 5.
RBI bars Paytm’s services; Wipro to cut hundreds of jobs
In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Payments Bank from offering all banking services after February 29. This and more in today’s ETtech Top 5.
Startups talk up funding winter, but loosen their purse strings
During the ongoing funding winter, several internet majors such as Paytm, Policybazaar parent PB Fintech, Flipkart failedd to control expenses in FY23. Horizontal omnichannel retailers such as Nykaa, Mamaearth parent Honasa Consumer and FirstCry also saw both employee expenses and marketing costs rise anywhere between 23% to 55% during FY23.
Paytm trims Q3 losses; Dream11 FY23 revenue grows 66%
Digital payments major Paytm on Friday said it has narrowed losses to Rs 222 crore for the quarter ended December, from Rs 392 crore a year ago and Rs 290 crore in the preceding quarter.
Paytm Q3 results today: Predictions and key things to watch out for
Paytm Q3 results today: Paytm should see strong GMV growth led by the festive season and partial impact of lending business rejig after RBI measures, Jefferies said. The brokerage estimates that the company will report 34% year-on-year (YoY) growth in total revenue to Rs 2,764 crore while loss is seen narrowing down to Rs 276 crore.
Paytm Q3 result preview: Losses to narrow on improved operating performance; solid revenue growth eyed
Paytm Q3 result preview: Paytm is expected to post solid revenue growth for Q3. Revenue from operations may grow 32% YoY and rise 8% sequentially. Losses are expected to narrow to Rs 280 crore. Analysts expect operating profit to increase, driven by improved contribution margin. In Q2, Paytm's revenue from operations improved 32%.
Paytm shares rally 4% on UBS betting that stock can rally up to Rs 900
UBS' coverage on the new-age stock comes days before the fintech payments major is scheduled to announce its Q3 report card on Friday. The brokerage house has forecast an overall revenue CAGR of 21% in FY24-28.
Payments firm Cashfree posts 75% jump in FY23 revenue, losses bloat to Rs 133 crore
Total expenses for Cashfree more than doubled to Rs 750 crore during the year, mainly on account of employee costs jumping to Rs 198 crore from Rs 96 crore in the previous fiscal.
Load More
