Paytm

March 3, 2025 7:00 PM

Rs 611 Cr FEMA Violations: ED issues notice to Paytm’s parent firm, managing director

The Enforcement Directorate (ED) on Monday issued a show-cause notice to One97 Communications Ltd, the parent company of Paytm, its Managing Director Vijay Shekhar Sharma, and others for alleged violations of the Foreign Exchange Management Act, 1999 (FEMA) amounting to Rs 611 crore. The notice was issued by the Special Director of Enforcement (Adjudication), New Delhi, to One97 Communications Ltd (OCL), Paytm’s flagship company, its Managing Director, and its subsidiaries—Little Internet P...

May 29, 2024 12:21 PM

Paytm denies media report on stake sale to Adani Group, terms it “speculative”

Hours after a media report claimed that Adani Group Chairman Gautam Adani was in talks with Paytm founder Vijay Shankar Sharma to buy a stake in Paytm, the popular fintech company termed the report "speculative". Paytm informed stock exchanges in a filing that the company is not engaged in any deal talk with Adani group. "...We hereby clarify that the abovementioned news item is speculative and the Company is not engaged in any discussions in this regard," the filing read. "We have always mad...

September 16, 2024 6:43 PM

Paytm registers 25% growth in revenue at Rs 9,978 crore in 2023-24

Paytm, the leading fintech brand operated by One 97 Communications, has reported a 25% surge in revenue, reaching Rs 9,978 crore during the financial year 2023-24. The company attributed the growth to the increasing gross merchandise value (GMV), expansion of merchant devices, and the flourishing financial services distribution business. Paytm achieved EBITDA profitability before ESOP costs of Rs 559 crore for the first full year since its initial public offering (IPO). During the fourth quart...