PAYTM

BENGALURU, Aug 12 (Reuters) - Indian fintech firm Paytm PAYT.NS on Tuesday said its unit Paytm Payments Services has got 'in-principle' approval from the country's central bank to operate as an online payment aggregator.

(Reporting by Nishit Navin; Editing by Sahal Muhammed)

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Aug 5 (Reuters) - Ant Group Co Ltd 688688.SS:

• ANT GROUP SELLS 37.3 MILLION SHARES IN INDIA'S PAYTM VIA BULK DEAL - EXCHANGE DATA

Source text: [ID:]

Further company coverage: 688688.SS

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** India's Paytm PAYT.NS jumps as much as 2.9% in early trade before paring gains; last up 0.1%

** Fintech firm posts first quarterly profit since September 2024, driven by robust growth in lending business and tight cost controls, and expects further earnings boost

** Improving core business resulted in strong earnings, says Jefferies; upgrades stock to "buy" from "hold"

** Adds, PAYT has done well to rebound from regulatory and business issues in 2024 by managing costs and rebuilding business momentum

** Emkay Global ("buy," PT: 1,350 rupees) says PAYT is executing well on acquiring merchants, leveraging its "superior" soundbox products and distributing loans

** Co's disbursement growth expected to remain healthy given improving tailwinds in unsecured lending - Motilal Oswal ("neutral," PT: 1,025 rupees)

** Stock up 3.3% YTD

(Reporting by Kashish Tandon in Bengaluru)

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July 22 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM Q1 EBITDA BEFORE ESOP COST AT 1.02 BILLION RUPEES

• PAYTM - SEEING EARLY SIGNS OF USER GROWTH AND RETENTION

• PAYTM - EXPECTS FURTHER IMPROVEMENT IN PROFITABILITY

• PAYTM - EXPECT THE CONTRIBUTION MARGIN TO BE IN THE MID TO HIGH 50S PERCENT FOR THE YEAR

• PAYTM - EXPECT INDIRECT EXPENSES AS A PERCENT OF REVENUES TO CONTINUE DECLINING OVER TIME

• PAYTM - FOR FY 2026, WE EXPECT ESOP COST TO BE IN THE RANGE OF 2.5-2.75 BILLION RUPEES

• PAYTM - DEPRECIATION & AMORTIZATION EXPECTED TO BE IN RANGE OF 5-6 BILLION RUPEES IN FY 2026

• PAYTM - ANTICIPATE GROWTH IN FINANCIAL SERVICES CUSTOMERS WITHIN LOAN DISTRIBUTION, PAYTM MONEY

• PAYTM - FOR PERSONAL LOANS, BASED ON CURRENT TRENDS, SEES EARLY SIGNS OF RECOVERY IN CREDIT CYCLE

• PAYTM - IN FINANCIAL SERVICES, GOING FORWARD, EXPECT HIGHER SHARE OF NON-DLG DISBURSEMENTS

• PAYTM - FOR ADDITIONAL LONG-TERM GROWTH, EXPLORING OPPORTUNITIES IN SELECT INTERNATIONAL GEOGRAPHIES

• PAYTM - GOING FORWARD, DISTRIBUTION OF FINANCIAL SERVICES REVENUE GROWTH TO BE SLOWER SEQUENTIALLY

Source text: [ID:]

Further company coverage: PAYT.NS

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July 17 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM CLOUD TECHNOLOGIES INCORPORATES SUBSIDIARY IN SAUDI ARABIA

Source text: ID:nBSE1nHWjm

Further company coverage: PAYT.NS

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June 12 (Reuters) - Shares of digital payments firm Paytm PAYT.NS slumped as much as 10% on Thursday after India's finance ministry said that reports about the introduction of fees on the popular unified payments interface (UPI) transactions were false and baseless.

The shares posted their sharpest intraday fall since February 2024, before coming off lows to trade down 8%. India's benchmark Nifty 50 .NSEI was trading 0.2% lower.

In India, merchants pay fees to banks or payment service providers, such as Paytm, for transactions. There is no fees on UPI payments.

The delay or non-introduction of the fees is "sentiment negative for Paytm", brokerage UBS said, adding that the firm's adjusted core profits could decline more than 10% in fiscal years 2026 and 2027 if increased incentives are absent.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

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** India's Paytm PAYT.NS rises 2.4% to 950.7 rupees

** Payments firm's unit sets up subsidiary Paytm Singapore to work towards expanding co's payments, financial services in Singapore

** Avg rating on stock is "buy"; median PT is 950 rupees - data compiled by LSEG

** Stock down 7.4% YTD

(Reporting by Aleef Jahan in Bengaluru)

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SYDNEY, May 13 (Reuters) - China's Ant Group has sold 25.5 million Paytm PAYT.NS shares at 823.10 Indian rupees ($9.69) apiece to raise $246 million in a block trade, according to a term sheet seen by Reuters.

($1 = 84.9025 Indian rupees)

(Reporting by Scott Murdoch; Editing by Himani Sarkar)

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Adds details, background paragraph 3 onwards

May 8 (Reuters) - Indian payments firm Paytm PAYT.NS and its founder and CEO Vijay Shekhar Sharma have settled an employee stock options violations case with the country's markets regulator, the Securities and Exchange Board of India said on Thursday.

As part of the settlement, Sharma has been prohibited from accepting fresh employee stock options (ESOPs) from any listed company for three years, while Paytm and Sharma each paid 11.1 million rupees ($129,884) each, SEBI said.

Last August, the SEBI determined that the grant of 21 million ESOPs to Sharma violated its rules governing share-based employee benefits. As per Indian rules, large shareholders who can influence company decisions cannot hold ESOPs.

Consequently, last month, Sharma had foregone these ESOPs and as a result, Paytm took a related 4.92 billion rupees one-time charge in the previous quarter.

Sharma owned a 14.7% stake in Paytm a year before the company went public in 2021. To become eligible for ESOP grants, he reduced his shareholding to 9.1% by transferring 30.97 million shares to Axis Trustee Services, which acted on behalf of the Sharma family trust.

Sharma's brother, Ajay Shekhar Sharma, also settled with SEBI in the same case by cancelling the stock options granted to him.

($1 = 85.4610 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

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May 6 (Reuters) - One 97 Communications Ltd PAYT.NS:

- INCURS ONE TIME CHARGE OF 5.22 BILLION RUPEES IN Q4
- Q4 ONE-TIME CHARGE INCLUDES ACCELERATED CHARGE OF 4.92 BILLION RUPEES AFTER CEO SAID WILL FOREGO ESOPS
- INDUSTRY EXPECTS MDR ON UPI FOR LARGE MERCHANTS TO BE ALLOWED IN NEAR FUTURE
- EXPECT INDIRECT EXPENSES TO INCREASE IN Q1 FY 2026 ON ACCOUNT OF ANNUAL APPRAISALS

- FROM Q1 FY 2026, ESOP COST WILL BE SUBSTANTIALLY LOWER

- Q1 FY 2026 ESOP COST ESTIMATED TO BE IN THE RANGE OF 750 MLN RUPEES TO 1 BLN RUPEES
- EXPECT CAPEX TO INCREASE IN LINE WITH INCREASED PACE OF DEVICE DEPLOYMENT

- LOOKING AHEAD, ANTICIPATE GROWTH IN FINANCIAL SERVICES CUSTOMERS IN LOAN DISTRIBUTION, PAYTM MONEY

- GOING FORWARD CAPEX WILL BE MUCH LOWER THAN FY 2024 LEVELS (PRE DISRUPTION)

- EXPLORING OPPORTUNITIES IN SELECT INTERNATIONAL GEOGRAPHIES

- PLAN TO INCREASE HIGH MARGIN FINANCIAL SERVICES REVENUE BY EXPANDING PARTNERS AND PRODUCTS

- EXPECT D&A EXPENSES TO BE IN THE RANGE OF 5-6 BLN RUPEES IN FY 2026

Source text: ID:nNSE63d218

Further company coverage: PAYT.NS

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April 30 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM - PCTL INCORPORATED PAYTM ARAB PAYMENTS IN UNITED ARAB EMIRATES

• PAYTM - UNIT APPROVED SUBSCRIPTION AMOUNT OF AED 8 MILLION FOR ACQUISITION OF PAYTM ARAB SHARES

Source text: ID:nBSE5TCLCq

Further company coverage: PAYT.NS

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April 16 (Reuters) - One 97 Communications Ltd PAYT.NS:

• ONE 97 COMMUNICATIONS LTD - VIJAY SHEKHAR SHARMA VOLUNTARILY FORGOES 21 MILLION ESOPS

• ONE 97 COMMUNICATIONS LTD - ONE-TIME ESOP EXPENSE ACCELERATION OF 4.92 BILLION RUPEES IN Q4 FY 2025

• ONE 97 COMMUNICATIONS LTD - NRC CANCELS UNVESTED ESOPS RETURNED TO ESOP POOL

Source text: ID:nBSEb1DNvH

Further company coverage: PAYT.NS

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April 2 (Reuters) - One 97 Communications Ltd PAYT.NS:

• ONE 97 COMMUNICATIONS LTD - PAYTM PARTNERS WITH GHMC TO DEPLOY 400 CARD MACHINES

Source text: ID:nBSEbTRRhQ

Further company coverage: PAYT.NS

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** Shares of Paytm PAYT.NS fall 4.6% to 727.80 rupees, One Mobikwik Systems ONEM.NS down 5% to 316.90 rupees

** India's union cabinet approved incentive of 15 bln rupees ($174 mln) for low-value UPI transactions between April 1, 2024 to March 31, 2025

** UPI is a real-time payment system to transfer money between bank accounts

** Brokerage Jefferies said government's incentives for low-value UPI transactions are half of last year's despite rise in such transactions

** Introduction of merchant charges (MDR) on UPI transactions could help Paytm in offsetting impact from reduction in UPI incentives, Jefferies says

** Paytm set to fall after gaining for three straight sessions, down ~28% YTD

** ONEM down ~45% in 2025

($1 = 86.2220 Indian rupees)

(Reporting by Vijay Malkar)

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** Shares of Paytm parent One 97 Communications PAYT.NS rise 6.2% to 731.45 rupees

** Fintech co's unit Paytm Money gets approval from Securities and Exchange Board of India to offer SEBI-compliant research services, including investment insights, research reports, and data-driven analysis

** The services will be integrated into Paytm Money app as part of research and advisory offering, co says

** Stock is rated the equivalent of 'hold' on average by 16 analysts, with PT of 876.25 rupees - data compiled by LSEG

** YTD, PAYT down about 28%

(Reporting by Vijay Malkar)

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, March 10 (Reuters Breakingviews) - Walmart WMT.N is looking for a cashback too soon. The U.S. retailer is preparing a Mumbai listing of PhonePe, India's leading facilitator of consumer mobile phone-based payments. But a mooted $15 billion valuation looks punchy, and will draw unflattering comparisons to the disastrous initial public offering of Paytm-owner One 97 Communications PAYT.NS.

The Bentonville, Arkansas-based company picked up PhonePe as part of its 2018 purchase of Flipkart, a deal that valued the e-commerce rival to Amazon AMZN.O at $21 billion. The payments business emerged as a market leader, ahead of Alphabet's GOOGL.O Google Pay and smaller rival Paytm. Through India's Unified Payments Interface channel, PhonePe boasts 530 million customers and a 48% market share, equivalent to $137 billion worth of monthly transactions.

That may not justify an IPO valuation of 25 times sales for the year ended March 2024, however. The multiple is six times its top listed rival: Paytm debuted at 44 times sales in 2021 but the stock has crashed below its IPO price.

True, PhonePe is a superior business in some ways. It has a deep-pocketed American parent and none of the geopolitical worries Paytm suffers as a result of its Chinese backing. An affiliate of Ant Group, a Hangzhou-based financial firm, continues to own almost 10% of the company. PhonePe also has had less trouble with regulators than its rival.

Yet while revenue is growing quickly, PhonePe is unprofitable like Paytm despite slashing the incentives it offers to retain customers. The company generated a net loss of $134 million in the year ended March 2024, financial filings show. That is hard to reverse because New Delhi keeps fees on UPI transactions at zero and is committed to low-cost payments. The government compensates service providers but that is just 10% of PhonePe's revenue.

PhonePe can cross-sell products including consumer loans and insurance but the company could easily lose its edge in the payments market too if India implements a longstanding plan to cap the individual market share of UPI apps at 30% of overall transaction volume.

Minority investors in PhonePe may be impatient for an exit. Plus Walmart paid India about $1 billion in tax in 2022 to redomicile to the country from Singapore. But Indian investors are impatient with lossmaking companies and they will ask why Walmart is testing its luck when memories of the Paytm disaster remain so fresh, instead of waiting for its payments business to prove itself.

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CONTEXT NEWS

Walmart-backed financial technology startup PhonePe plans to seek a valuation of up to $15 billion in an initial public offering in India, news website Moneycontrol reported on February 25, citing unnamed industry sources.

The digital payments firm is working with Kotak Mahindra Capital, JPMorgan, Citi and Morgan Stanley on the deal, the report addded.

(Editing by Una Galani and Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

March 4 (Reuters) - One 97 Communications Ltd PAYT.NS:

• ONE 97 COMMUNICATIONS LTD - PAYTM UPI ENABLES SEAMLESS TRADING ON BROKING APPS

Source text: ID:nBSE7hFRW

Further company coverage: PAYT.NS

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March 3 (Reuters) - India's financial crime fighting agency said on Monday its investigation revealed that payment services provider Paytm PAYT.NS had violated the country's Foreign Exchange Management Act to the tune of 6.11 billion rupees ($70.00 million).

($1 = 87.2860 Indian rupees)

(Reporting by Sethuraman NR; Editing by Mrigank Dhaniwala)

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March 1 (Reuters) - One 97 Communications Ltd PAYT.NS:

• INDIA’S PAYTM RECEIVES SHOW CAUSE NOTICE FROM INDIAN FINANCIAL CRIME FIGHTING AGENCY - STATEMENT

• INDIA’S PAYTM'S SHOW CAUSE NOTICE RELATES TO ALLEGED VIOLATION OF INDIA’S FOREIGN EXCHANGE MANAGEMENT ACT FOR YEARS 2015 TO 2019 - STATEMENT

• INDIA’S PAYTM RECEIVES NOTICE IN RELATION TO ITS ACQUISITION OF TWO SUBSIDIARIES- STATEMENT

• INDIA'S PAYTM IS SEEKING NECESSARY LEGAL ADVICE, NOTICE HAS NO IMPACT ON ITS SERVICES, CUSTOMERS - STATEMENT

Source text: https://tinyurl.com/5n7xdeju

Further company coverage: PAYT.NS

(Reporting by AnushaDevan Shah)

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Feb 26 (Reuters) - One 97 Communications Ltd PAYT.NS:

• INDIA GOVERNMENT: DPIIT SIGNS MOU WITH PAYTM

Source text: [ID:]

Further company coverage: PAYT.NS

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MUMBAI, Feb 20 (Reuters) - Walmart WMT.N-backed Indian fintech firm PhonePe is beginning preparatory steps for a public listing on the country's stock exchanges, the company said on Thursday.

"PhonePe's strong top-line and bottom-line growth across its diverse business portfolio, as detailed in its FY23-24 annual report, makes this a suitable time to prepare for a public listing," the company said in a statement.

PhonePe, which was founded in 2016, turned a profit for the first time in fiscal year 2024, achieving a consolidated profit before the cost of employee stock options of 1.97 billion rupees, compared to a loss of 7.38 billion rupees in the previous year

Its revenue jumped 74% to over 50 billion rupees in the reporting period.

The Indian stock market saw a significant upswing for much of 2024, with many companies launching their IPOs, but a downturn since October has weighed on investor sentiment.

PhonePe, which moved its domicile to India from Singapore in October 2022, did not give a timeline for when it intends to float an initial public offering.

PhonePe is among the most widely used apps in India to make payments via India's popular unified payments interface (UPI). Its share of UPI payments stood at 48.4% in January 2025.

It has more than 590 million registered users over 40 million merchants. It processes over 310 million online transactions daily.

PhonePe's rival Paytm PAYT.NS, formally known as One97 Communications, filed for a 183-billion-rupee IPO in 2021.

Paytm was trading at 755.55 rupees per share at market close on Thursday, significantly down from its listing price of 1,950 rupees in 2021.

(Reporting by Siddhi Nayak; Editing by Tasim Zahid)

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Feb 3 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM CLOUD APPROVES USD 1 MILLION INVESTMENT IN SEVEN TECHNOLOGY LLC

• PAYTM CLOUD TO ACQUIRE 25% STAKE IN SEVEN TECHNOLOGY LLC

• SEVEN TECHNOLOGY, DINIE WILL BECOME ASSOCIATE ENTITIES

Source text: ID:nBSE1ZDRtg

Further company coverage: PAYT.NS

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Jan 27 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM - RESIGNATION OF NAKUL JAIN, MANAGING DIRECTOR AND CEO OF PAYTM PAYMENTS SERVICES LIMITED

• PAYTM - JAIN HAS RESIGNED FROM HIS POSITION W.E.F. CLOSE OF BUSINESS HOURS ON MARCH 31, 2025 OR AN EARLIER MUTUALLY AGREED DATE

Source text: [https://tinyurl.com/2d8fz3n6]

Further company coverage: PAYT.NS

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Jan 24 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM CONFIRMS NO NEW NOTICE FROM ENFORCEMENT DIRECTORATE

• CONFIRM CO HAD FULLY COOPERATED WITH AUTHORITIES AND HAD COMPLIED WITH ALL THEIR DIRECTIVES

• CLARIFIES NO PROBE ON COMPANY OR SUBSIDIARIES, ED’S PROBE ON THIRD-PARTY MERCHANTS

Source text: ID:nBSE7ZV16n

Further company coverage: PAYT.NS

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Jan 20 (Reuters) - One 97 Communications Ltd PAYT.NS:

• PAYTM Q3 CONSOL NET LOSS 2.08 BILLION RUPEES

• PAYTM Q3 CONSOL REVENUE FROM OPERATIONS 18.28 BILLION RUPEES

Source text: [ID:]

Further company coverage: PAYT.NS

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Jan 17 (Reuters) - One 97 Communications Ltd PAYT.NS:

• SETTLEMENT ORDER IN THE MATTER OF ONE97 COMMUNICATIONS

• FORMER COMPLIANCE OFFIECER, DIRECTORS SETTLE WITH MARKETS REGULATOR FOR CERTAIN VIOLATIONS

Source text: [ID:]

Further company coverage: PAYT.NS

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** Shares of Paytm PAYT.NS climb ~5% to 901.70 rupees

** Brokerage Emkay Global upgrades fintech firm to "Buy" from "Add", and raises PT to 1,050 rupees from 750 rupees

** Recent approval from the country's payments regulator NPCI to sign new UPI users eases a major regulatory overhang, says Emkay

** NPCI nod for new UPI users would help PAYT to rebuild monthly transacting users' base over the next 12-18 months - Emkay

** Adds, PAYT will also be able to cross retail financial products like insurance and loans, thereby improving per user revenue

** Stock has gained ~28% since getting the nod from NPCI in October 2024

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of India's Paytm PAYT.NS slide 7% to 913 rupees

** Co's UPI market share for Dec at 6.87%, little changed from Nov's 6.94% share, NPCI data showed

** In end-Oct, the payments firm received nod to onboard new UPI users after a nearly 10-month ban

** In the six sessions so far in 2025, PAYT has lost 10%; stock surged 60% in 2024

(Reporting by Hritam Mukherjee in Bengaluru and Jaspreet Kalra in Mumbai)

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Dec 18 (Reuters) - Shares of India's MobiKwik ONEM.NS jumped 58% at pre-open in their market debut on Wednesday as investors bet on the fintech firm's prospects in the fast-growing online payments sector.

The stock listed at 440 rupees on the National Stock Exchange, compared to its offer price of 279 rupees.

MobiKwik's 5.72 billion rupee ($67 million) initial public offering (IPO) was subscribed nearly 120 times the 11.9 million shares on offer, garnering bids worth about $4.7 billion.

($1 = 84.9220 Indian rupees)

(Reporting by Nishit Navin; Editing by Sonia Cheema)

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Dec 13 (Reuters) - Investors flocked to India's MobiKwik's ONEM.NS $67 million IPO with bids for about 120 times the shares on offer, betting on strong listing gains and the fintech company's prospects in a booming online payments market.

The initial public offering received bids for 1.4 billion shares, worth about $4.7 billion, compared to the 11.9 million shares on offer, exchange data showed at the end of the three-day sale on Friday. The issue was fully subscribed within an hour of opening on Wednesday.

MobiKwik's IPO, which only comprised new shares issue, was the heaviest subscribed since late September, when the domestic stock market started easing from its record highs.

Millions of Indians pay online for everything from groceries to flight tickets, aiding the business of financial technology firms, popularly known as fintechs, that ranges from offering loans to running payment gateway solutions.

Paytm, Walmart-backed PhonePe and Google Pay dominate India's online payments market. Consultancy firm PwC estimates the transaction value for the market to double to 593 trillion rupees in fiscal year 2028–29 from 265 trillion rupees in 2023–24.

Shares set aside for retail investors were booked 135 times, while the institutional buyers, including foreign institutions and mutual funds, placed bids for about 120 times their reserved shares.

Analysts said the MobiKwik stock was trading at around a 50% premium in the unregulated grey market, which is considered an indicator of listing day gains. The stock is likely to start trading on Dec. 18.

MobiKwik was targeting a $256 million valuation at the upper end of the 265-279 rupees price band.

Backed by India's Bajaj Finance BJFN.NS and Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, the fintech firm had shelved its plans to go public in 2021 after Paytm's disappointing debut that year.

($1 = 84.7690 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Shilpi Majumdar)

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