These shares are worth an estimated Rs 600 crore, according to reports.
In the letter to shareholders, Paytm said the transfer of its payments business will be made on a slump sale basis for a lump sum of 275-350 crore, which it will receive in five equated annual instalments. IST 6 Min (s) Read Paytm employees eye Rs 600 cr ESOP share conversion ahead of IPO Ahead of Paytm's IPO, several of its top employees are seeking to convert their employee stock ownership plan (ESOP) grants into the company’s shares. IPO-bound Paytm sees revenue drop, cuts losses by 42 in FY21 2 min read Tarush Bhalla, 03:27 PM IST The drop in losses also comes on the back of shrinking expenses.
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The company has said it has achieved over 1.4 billion overall transactions in March, led by growth in offline payments and financial services. The company will seek approval for the same from its stakeholders through the extraordinary general meeting scheduled for September 23. Business News: New Delhi, Sep 21 (PTI) Digital payments and financial firm Paytm has received over 5. The firm had over 900,000 merchants using its IoT devices in March and is on a mission to bring 50 million merchants into the mainstream economy and equip businesses with five million IoT devices over the next few years. Decoding IPO-bound Paytm's business model: How does it earn money Paytm has three key businesses - payment services, financial services and commerce and cloud services. The firm took a bet on devices one and a half years ago and recently launched the second version of its SoundBox device. Its Paytm for Business app, and the IoT-enabled SoundBox devices are among its successful ventures on the business side. Paytm’s realignment of its position from being a payments service provider to merchant payments, with its credit tech vertical leading the next wave of growth, its payments bank leading to lending-based monetisation and its talent pool - these were the key highlights of the Bernstein report.įrom Internet-of-Things-enabled hardware solutions to its Paytm for Business app, the e-commerce and payments firm is engaging more and more with its merchant user base. "With increased financial discipline (rare in the hyper competitive payments space), Paytm is on track break-even in 12-18 months,” said Bernstein analysts Gautam Chhugani and Manas Agrawal in a pre-IPO note on Paytm last month.Īccording to Bernstein, the firm has an installed user base of about 350 million, 50 million active users, and over 20 million merchant users, while its payments bank has about 60 million accounts. “We believe, the next stage of growth will be led by financial services, particularly delivering seamless credit tech products to consumers and merchants. The report is yet to be filed to the registrar of companies. The impact of this is yet to show on the top line.Īccording to the Annual Report of One97 Communications, the parent company of Paytm, it has managed to narrow its losses by 42 per cent to Rs 1,701 crore in the financial year ended March 31, while revenue from operations fell 14.5 per cent to Rs 2,802.41 crore during the year.
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