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<ul><li><strong>Paytm's stocks  saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.</strong></li><li><strong>Sources have confirmed that Chinese group Alibaba is behind the block deal.</strong></li><li><strong>According to sources, Alibaba seems to be making an exit from India as it had sold shares in other investments as well<br /></strong></li></ul><br />Paytm's stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.<br /><br />The shares were sold at Rs 535.90 worth Rs 13.93 crore.<br /><br />Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total <br />equity of about 6 per cent. With this block deal, Alibaba, the sources said, seems to be making an exit from India as it had sold shares in other investments such as BigBasket and Zomato.<br /><br />This is expected to bring cheers among investors. With Chinese shareholding reducing their stake, it will benefit the company in their Foreign Direct Investment (FDI) aspect.<br /><br />Paytm shares' intraday low was Rs 528.10. In fact, immediately after the block deal it soon recovered some part of the losses.<br /><br />Paytm's shares had been steadily rising for the past few days after there were several good news floating about the company. Its associate <keyword id="3236791" type="General" weightage="80" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> has received <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> approval to appoint <keyword id="5719896" type="General" weightage="80" keywordseo="surinder-chawla" source="Orion">Surinder Chawla</keyword> as its Managing Director and CEO.<br /><br />The company had posted a strong operating performance update for the October-December quarter.<br /><br />The Paytm Super App continued to see growing consumer engagement with the average Monthly Transacting User for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent on a yearly basis.<br /><br />The total merchant <keyword id="2185962" type="General" weightage="80" keywordseo="gross-merchandise-value" source="Orion">Gross Merchandise Value</keyword> processed through the platform for the quarter ended December 2022 aggregated to Rs 3.46 lakh crore (USD 42 billion), marking a year-on-year growth of 38 per cent.<br /><br />The number of loans grew 117 per cent yearly to 3.7 million for the month of December, and 137 per cent to 10.5 million cumulative loans for the three months ended December 2022.<br /><br />As a result, total disbursements for the three months ended December 2022 was Rs 9,958 crore, a growth of 357 per cent on year.<br /><br />Paytm believes it continues to be on track for its profitability plans, with robust revenue growth driven by its strong business model.<br /><br />Meanwhile, brokerage and global investment firm <keyword id="48670" type="General" weightage="80" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>, in a report, pegged Paytm's shares target price to be at Rs 695 going ahead as against Rs 579 at Wednesday's close. It essentially means there is an upside potential of about 20 per cent returns on investment for investors. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-will-be-key-beneficiary-of-indias-upi-incentive-scheme-morgan-stanley/articleshow/96933995.cms">Paytm will be key beneficiary of India's UPI incentive scheme: Morgan Stanley</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tcs-revenue-growth-to-slowdown-in-fy24-fitch-ratings/articleshow/96933754.cms">TCS revenue growth to slowdown in FY24: Fitch Ratings</a></strong>

Alibaba exiting India? Paytm among other Alibaba-owned stocks seeing selloff

In a block deal, 3.4 per cent equity (or 2.1 crore shares) of <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword>'s parent company One97 <keyword id="4584578" type="General" weightage="50" keywordseo="communications-ltd" source="Orion">Communications Ltd</keyword> (OCL) changed hands on Friday.<br /><br />Sources in the know of the development say that Chinese multinational Alibaba has sold its entire stake in Paytm in today's block deal.<br /><br />With this sale, Alibaba is no longer a stakeholder in Paytm. The company had sold around 3.1 per cent of 6.26 per cent equity in Paytm in January.<br /><br />This latest deal almost completes Alibaba's exit from <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> since it had earlier sold its stakes in <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="964794" type="General" weightage="20" keywordseo="bigbasket" source="Orion">BigBasket</keyword>. The news will bring cheer to the market as it ends the Chinese stakeholding in the homegrown Paytm.<br /><br />Paytm's shares have been rallying in the last few days since it announced operating profitability in its Q3FY23 results with EBITDA before ESOP cost at Rs 31 crore, significantly ahead of its guidance of September 2023.<br /><br />The fintech giant revenue from operations increased to Rs 2,062 crore (no <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> incentive recorded this quarter), a growth of 42 per cent on a yearly basis. This was followed by Paytm's robust operating update of January 2023 that it filed with the stock exchange on February 8.<br /><br />The company has continued to witness sustained growth momentum in its key payments and lending business. Paytm strengthened its leadership in offline payments with the deployment of 6.1 million devices while its average MTU at 89 million registered a 29 per cent growth for the month of January 2023. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/what-is-formula-e-all-you-need-to-know-ahead-of-inaugural-race-in-india/articleshow/97795878.cms">What is Formula E? All you need to know ahead of inaugural race in India</a></strong><br /><strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rrr-kgf-chapter-2-game-of-thrones-spider-man-no-way-home-among-most-pirated-content-in-india-in-2022/articleshow/97795322.cms">RRR, KGF Chapter 2, Game of Thrones &amp; Spider-Man: No Way Home among most-pirated content in India in 2022</a></strong><br />

Chinese multinational Alibaba exits India, sells its entire stake in Paytm

New Delhi, <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword>, one of the most recognised faces of India's fintech industry, has seen a fair share of controversies. Sharma launched <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> - an acronym for 'pay through mobile' - offering mobile recharges. He launched wallet services in 2011 but the big push came with the 2016 demonetisation. He took out front-page ads in top newspapers with Prime Minister Narendra Modi's photo, calling demonetisation the "boldest decision in the financial history of independent India". <br /><br /> With fewer currency notes in circulation, Paytm was on a roll. <br /><br />Sharma made a splash in 2018 by getting USD 300 million investment in Paytm from <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway. <br /><br /><strong>*Controversies*</strong> <br /><br />Paytm was mired in controversies with its Chinese connection following huge investments from Alibaba Group. The Chinese internet firm became the biggest shareholder in Paytm with a 34.7 per cent stake before the company's initial public offer. <br /><br />Alibaba group firm Antfin sold around 5 per cent shares to lower its stake below 25 per cent to comply with regulatory requirements at the time of IPO. <br /><br />To shed its Chinese-owned entity image, Paytm in August 2023 announced that founder and CEO Vijay Shekhar Sharma would acquire a 10.3 stake in Antfin through his overseas entity Resilient Asset Management BV which will make him the largest stakeholder in the company with 19.42 per cent stake. <br /><br />In return, Resilient issued a debt instrument --optionally convertible debentures, to Antfin thereby maintaining the economic interest of Alibaba group firm. <br /><br />With this transaction, Antfin's direct stake in Paytm was reduced to 13.5 per cent. Antfin further sold 3.6 per cent in Paytm to bring its shareholding to less than 10 per cent and at present holds 9.89 per cent of the fintech firm. <br /><br />The company's market cap has eroded drastically since the time of its listing. <br /><br />The company's IPO opened on November 8, 2021, in the price band of Rs 2,080-2,150 per share. The Paytm IPO made history with over Rs 18,300 crore share sale 'making it the largest public issue in India's corporate history. <br /><br />But the company's stock made a weak debut in the market on November 18 and hit a lower circuit after recording about 20 per cent decline during trading hours. It finally closed at Rs 1,560, down by about 27 per cent, compared to its issue price of Rs 2,150. <br /><br />Since then, Paytm shares have not been able to cross even half the mark of the issue price. After the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s January 31 move, One97 Communications shares tanked around 40 per cent to close at Rs 487.05 on BSE on Friday. <br /><br />Billionaire businessman <keyword id="19952201" type="General" weightage="20" keywordseo="warren-buffet" source="keywords">Warren Buffet</keyword>'s Berkshire Hathaway sold its stake in Paytm at a loss of 31 per cent per share in November 2023. Berkshire Hathaway had invested in Paytm for about Rs 1279 per share but sold it for Rs 877.29 apiece. <br /><br />At present, Cayman Island-registered SAIF III Mauritius Company Limited is the single largest direct shareholder in Paytm with a 10.83 stake followed by Sharma's Resilient Asset Management BV with a 10.29 per cent stake. SAIF Partners is led by Chinese-origin entrepreneurs with Andrew Y Yan as its managing partner. <br /><br /><strong>*Paytm run-ins with RBI*</strong> <br /><br />RBI on June 19, 2018, prohibited Paytm Payments Bank from opening any new account and wallet with effect from June 20, 2018, on account of supervisory concerns, which were lifted by RBI on December 27, 2018, with effect from December 31, 2018. <br /><br />The Office of Banking Ombudsman issued a show-cause notice dated March 6, 2019, for Paytm Payments Bank's failure to monitor a certain account maintained with it which had shown a sudden increase in the velocity of daily transactions involving immediate transfer to other banks. The actions were found to be in the violation of RBI's provisions on KYC. <br /><br />RBI rejected Paytm Payments Services Ltd's (PPSL) application to operate as a payment aggregator on November 25, 2022. The banking regulator asked the firm to re-submit applications within 120 days after it gets government approval on investment made by OCL into PPSL as per FDI guidelines. The regulator asked PPSL to continue operations with the condition that no new merchants should be onboard. <br /><br />After completion of 120 days, RBI again granted PPSL an extension but without removing the bar on new merchant onboarding. <br /><br />RBI issued a show cause notice to PPBL on July 29, 2021 for submitting false information to RBI confirming completion of the transfer of the Bharat Bill Payment Operating Unit ("BBPOU") by OCL to PPBL on August 28, 2017. The actual transfer of the BBPOU business by the Company to PPBL was completed only by March 31, 2021. <br /><br /> RBI on October 1, 2021, imposed a penalty amounting to Rs 1 crore on PPBL for a contravention of the Payment and Settlement Systems Act, 2007. <br /><br />RBI imposed a penalty of Rs 5.93 crore on PPBL on October 10, 2023, after it found several non-compliances including banks failure to identify beneficial owners in respect of entities on-boarded by it for providing payout services. <br /><br />RBI found that PPBL did not monitor payout transactions and carry out risk profiling of entities availing payout services, breached the regulatory ceiling of end of the day balance in certain customer advance accounts availing payout services. The banking regulator found that PPBL reported a cyber security incident with delay and failed to implement device binding control measures related to 'SMS delivery receipt check'. <br /><br />PPBL video-based customer identification process infrastructure failed to prevent connections from IP addresses outside India.

Vijay Shekhar Sharma: The controversies of the architect of fintech

<ul><li>The shares bought by ANT Group, an associate company of Alibaba, just before the IPO had lost nearly ₹16,012 crore (over $2 billion) of their value in the first two months of <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s listing.</li><li>The company has bought shares worth ₹33,600 crore in Paytm at an average price of ₹1,833, which is the highest among all institutional investors.</li><li>If ANT Group had sold all its shareholdings in Paytm during the IPO, it would have got ₹39,400 crore ($5.2 billion) in return.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>All the retail investors who lost money on Paytm’s public issue, it may bring you some solace that even the company’s largest and one of the oldest backers from the Alibaba Group’s wealth fell on the fear of missing out despite being an investor in the digital payments giant for the last six years. <br /><br />The shares bought by ANT Group, an associate company of Alibaba, before the initial public offering (IPO) — at an average cost of ₹1,883 apiece ⁠— lost nearly ₹16,012 crore (over $2 billion) ⁠of their value in the first two months of Paytm’s listing. So far, there has been no public report of ANT selling <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> since the listing. <br /><br />                                                    <div type="Video" msid="88035227" hostid="261" title="When will Paytm start making money" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=88035227"></div><br />Now, Macquarie has said <a href="https://www.businessinsider.in/business/corporates/news/paytms-stock-down-over-40-since-listing-heres-why-analysts-expect-it-to-sink-deeper/articleshow/88810339.cms">that the stock could fall to ₹900</a> in the next one year, down another 24% from Monday’s closing price. <br /><br />If ANT Group had sold all its shareholdings in Paytm during the IPO, it would have got ₹39,373 crore ($5.3 billion), leading to a profit of ₹5,800 crore ($782 million). <br /><br />Alibaba’s affiliate had sold nearly 3% of its shareholdings for ₹4,704 crore (nearly $630 million), but it still owns 24% shareholdings in Paytm that are now worth ₹ 18,657 crore by Monday market closing (January 10).<br /><br />The value of the residual stake in Paytm could have been worth ₹34,669 crore if the digital payments giant had maintained its IPO issue price of ₹2,150.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pre-IPO Average Price<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Investment<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of residual shareholding* <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of shares sold in IPO**<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gross Loss, at ₹1,157 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ANT Group<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,833.30<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹33,600 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,657 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,704 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16,012 crore<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: Paytm’s filings, Business Insider calculations</em><br /><em>*The value of remaining shareholdings has been derived based on the closing price of Paytm’s share</em><em>s </em><em>(₹1,157) on January 10</em><em>.</em><br /><em>**Shares in the IPO were sold at ₹2,150. </em><br /><br />Business Insider had earlier reached out to Paytm and ANT Group to seek its comments for this article.<br /><br />Paytm has lost more than $10 billion in market cap in the last two months of trading. The company was last valued at $10 billion (₹76,094 crore) on January 10 versus $19.9 billion in its IPO.<br /><br />"Paytm’s payment business accounts for about 70% of revenue, which will be under threat if there are any regulatory changes . Also, its entry into insurance sectors has been rejected by regulators. The stock is trading at about 17 time FY23 sales which seems overvalued considering higher expenses and risk of attrition of senior executives," Manoj Dalmia, Founder and Director at Proficient Equities Private Limited, said.<br /><br />                          <div type="image" title="Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm" msid="88824685" hostid="261"></div><br />Alibaba, on the other hand, has reported a net profit of ₹3,727 crore ($500 million), since its average cost of acquisition of equity shares was ₹583 only. The company still has shareholding worth ₹4,701 crore ($635 million) in the company, calculated based on the January 10 closing price of ₹1,157. This could have been worth ₹8,736 crore ($1.1 billion), at the IPO issue price. But ANT didn’t sell all its shares in the IPO.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholder<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Existing shareholding<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of existing shareholding now, at ₹1,157 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of existing shareholding, at IPO issue price of ₹2,150 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ANT Group<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.7%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,657 crore ($2.5 billion)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Over 34,669 crore ($4.6 billion)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,701crore ($635 billion)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,736 crore ($1.1 billion)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Japanese investor SoftBank sold majority of its shareholdings from SVF Panther (Cayman) Limited in the IPO, giving it an exit of ₹1,689 crore ($226 million). <br /><br />However it still owns about 17% stake in the company through SoftBank Vision Fund India. They would have made ₹24,351 crore if they completely exited the company during the IPO, but the value has now dropped to ₹13,104 crore. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholders <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholding pre-IPO<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholding post-IPO<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ANT Group<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.9%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.7%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SoftBank<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.4%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.8%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />The average price paid by SVF India Holdings (Cayman) Limited to acquire a share of Paytm has not been disclosed as it was not selling any shares during the IPO.<br /><br />                          <div type="image" title="Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm" msid="88824756" hostid="261"></div><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/corporates/news/paytms-stock-down-over-40-since-listing-heres-why-analysts-expect-it-to-sink-deeper/articleshow/88810339.cms">Paytm’s stock down over 40% since listing; here’s why analysts expect it to sink deeper</a><br /><br /><a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-the-government-is-now-the-biggest-shareholder-in-vodafone-idea/articleshow/88824061.cms">The government is now the biggest shareholder in Vodafone Idea</a><br /><br /><a href="https://www.businessinsider.in/investment/news/bitcoin-ethereum-and-others-have-lost-nearly-40-percent-since-their-record-highs-but-investors-are-still-better-off-than-they-were-a-year-ago/articleshow/88823379.cms">Bitcoin, Ethereum, and others are half-way down from their record highs, but investors are still better off than they were a year ago</a>

Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm

<br /><ul><li><keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword> is looking to expand its market in India and one-up its competitors.</li><li>It’s looking to do it in the most Chinese way possible, keeping its product flexible and cheap.</li><li>Although Alibaba Cloud in the process of wooing a few digital companies away from Amazon Web Services (AWS) — it’s now looking to get bigger companies on board.</li></ul>Alibaba Cloud is looking to expand its market in India. In a lot of ways, the company’s <keyword id="140601" type="COMPANY" weightage="20" keywordseo="database">database</keyword> management solutions aren’t all that different — but is already wooing away new-age digital companies like Zomato, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> from Amazon Web Services (AWS). Now, it is now looking to get bigger companies on board.<br /><br />The selling point for Alibaba Vice President Feifei Li is not very different from any other Chinese business ⁠— flexible and cheap. <br /><br />"Both (AWS Aurora and Polar DB) use shared storage architecture, which can serve up to 100 TB (terabytes) of data — but if you want to scale beyond that, like during a massive e-commerce operation, they need scalability beyond what shared storage can offer," Li told Business Insider. And, according to him, it costs a tenth of the AWS’ cloud services.<br /><br />But AWS doesn't agree. "It is inaccurate to say that PolarDB is available at a tenth of the cost as Amazon Aurora. If you consider a top of the line instance size, Amazon Aurora is still cheaper than PolarDB with more VCPUs (6 more VCPUs) on offer, and a secure virtualization platform (R5 instances powered by the AWS Nitro System)," the company told Business Insider.<br /><br />It also pointed out that even though Zomato, Paytm and BigBasket are on Alibaba Cloud, they're also using AWS simultaneously for other services.<br /><br />Li is in India to sell Polar DB, Alibaba Cloud’s relational database — a database in which a lot of different data sets can be compared and re-assembled without having to reorganise storage.<br /><br /><strong>Amazon’s customers, Alibaba-backed companies<br /></strong><br />Currently, most of the company’s clients are small and medium enterprises (SMEs) — but most of the revenue comes from large companies. "We already have quite a few large businesses like <keyword id="96306" type="CITY" weightage="20" keywordseo="Reliance-Entertainment">Reliance Entertainment</keyword> and helped them launch across 150 countries," said Alex Li, General Manager of Alibaba Cloud South Asia.<br /><br />So, Alibaba Cloud’s real test will be when it tries to woo its next set of clients. Out of the four big names highlighted by Li, Alibaba Group has stakes in <a href="https://www.businessinsider.in/paytm-mall-completes-450-million-funding-round-from-softbank-and-alibaba/articleshow/64569914.cms">Paytm</a> and <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">BigBasket</a>. <br /><br /><strong>As Alibaba Cloud tries to woo Amazon’s customers, these are its major promises:<br /></strong><br /><ol><li><strong>It’s flexible. </strong>PolarDB addressed nearly 87 million requests per second during peak traffic helping Alibaba’s <a href="https://www.businessinsider.in/alibaba-just-had-the-biggest-online-shopping-day-of-all-time-nearly-tripling-every-companys-2017-black-friday-and-cyber-monday-sales-combined/articleshow/66580674.cms">11:11 Single Day</a> sale in China, which clocked a <a href="https://www.businessinsider.in/tech/news/alibaba-leaders-deny-sensational-claims-made-in-viral-weibo-post-that-said-the-chinese-e-commerce-giant-misreported-its-singles-day-sales/articleshow/72117515.cms">record-breaking</a> gross of <a href="https://www.businessinsider.in/retail/news/chaotic-photos-show-what-it-looks-like-when-alibaba-sells-38-billion-worth-of-merchandise-on-chinas-biggest-shopping-holiday-and-breaks-records/articleshow/72028088.cms">$38.4 billion</a>, according to the company.</li><li><strong>It’s cheap.</strong> Li says the PolarDB is available at a tenth of the cost as AWS Aurora.</li><li><strong>It’s tried and tested. </strong>"Not only do we have cloud database as a service, but we also provide database infrastructure for the entire Alibaba Group. That really helps us strengthen our technology and mature our product before we offer it to our customers," he explained.</li><li><strong>It is fully compatible with MySQL. </strong>This is <a href="https://www.gartner.com/en/documents/3947472/magic-quadrant-for-cloud-infrastructure-as-a-service-wor">an important capability </a>since more businesses are already integrated with one type of database or another. Compatibility ensures that they can easily transfer their data and processes from one platform to the next. </li><li><strong>Security. </strong>"We have some unique strengths, that Microsoft, Google and AWS don’t have. For example, we have a product called AllEncrypted. It combines database kernels with security software like Intel SGX. It allows the customer to encrypt their data using a private, secret key — and they don’t have to share that key with us," said Li.</li><li><strong>Keep tabs on data.</strong> In the near future, blockchain technology will be integrated, which will allow authentication of the data through database logs.</li></ol>Alibaba Cloud is focusing all of its energies on India, and for good reason. Not only are local businesses looking to shift to the cloud rather than set up their own servers, but India’s impending <a href="https://www.businessinsider.in/policy/news/indias-new-data-protection-is-in-the-works-and-companies-will-only-have-to-pay-2-million-for-violations/articleshow/72381112.cms">Personal Data Protection Bill</a> is likely to push for <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">localisation</a> — and Alibaba already has two data centres in the country.<br /><br /><strong>See also:</strong><br /><a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">Data localisation won't help 'local' firms or improve privacy — but it could cost India $43 billion</a><br /><br /><a href="https://www.businessinsider.in/whatsapp-data-may-shift-to-the-cloud-but-may-no-longer-be-as-encrypted/articleshow/65475359.cms">WhatsApp data may shift to the cloud, but may no longer be as encrypted</a><br /><br /><a href="https://www.businessinsider.in/tcs-and-cisco-join-hands-for-a-new-cloud-product/articleshow/70673984.cms">TCS and Cisco experimented a cloud service with a large insurer — and now they are ready to launch</a><br />

Alibaba Cloud is trying to woo Amazon's customers in the most Chinese way possible

<ul><li>According to reports, <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> is pausing on its India <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> investments. </li><li>It has made big bets on India like <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> and Paytm Mall, Zomato, BigBasket, Snapdeal and logistics firm Xpressbees. </li><li>Alibaba was also reported to have been looking at a deal with Reliance Retail.</li></ul>E-commerce giant Alibaba has put a full stop to its investments in India, according to <a href="https://www.moneycontrol.com/news/business/alibaba-hits-pause-on-fresh-india-investments-4370951.html">reports</a>.<br /><br />In a response to Moneycontrol, Alibaba said that it remains committed to the Indian market. <br /><br />Alibaba was also reported to have been eyeing deal with Reliance Retail. However, these deal talks seem to have fallen through. <br /><br />Alibaba has placed big bets in the Indian market with top startups like Paytm and Paytm Mall, Zomato, BigBasket, Snapdeal and logistics firm Xpressbees. However, Alibaba hasn’t exited from any of their investments. <br /><br />In May, Alibaba was<a href="https://www.livemint.com/companies/news/alibaba-looks-to-focus-on-small-deals-in-india-1557082189868.html"> rumoured</a> to be re-evaluating its India strategy to turn its focus to smaller ticket deals in India. This is after having made large investments with great emphasis on big and successful companies. <br /><br />This move comes after Alibaba’s much talked about Hong Kong IPO was delayed, owing to the political unrest. Alibaba’s first IPO in 2014 in the US created history in the market as it raised $25 billion. But investors will have to wait for yet another possibly stellar debut atAsian financial hub – Hong Kong.<br />

Alibaba won't be making any fresh investments in India: Reports

India's largest fintech company <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> saw its mandatory lock-in expiry end today, with 86 per cent of its shares becoming free to trade.<br /><br /> Trends showed that the lock-in expiry had minimal or no impact on the company's share price, which was trading at Rs 637, down 0.2 per cent at 10:30 am.<br /><br /> In fact, details on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> show that more shares were being bought than sold.<br /><br /> Paytm counts the likes of Warren Buffet, SoftBank, Elevation Capital, and Alibaba as its long-term investors.<br /><br /> Top brokerage firms such as JP Morgan, Morgan Stanley, <keyword id="6361649" type="General" weightage="50" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword>, <keyword id="46909" type="General" weightage="50" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword>, Dolat Analysis and Research Themes, and CITI have extended their confidence in Paytm's strong performance.<br /><br /> The company recently announced Q2 FY23 financials and posted a 76 per cent yearly growth in revenue to Rs 1,914 crore.<br /><br /> Meanwhile, the company's losses were reduced by 11 per cent on a sequential basis. The company's contribution profit surged 224 per cent year-on-year to Rs 843 crore.<br /><br /> Recently, in a shareholder letter, the founder and CEO Vijay Shekhar Sharma, said: "We are now excited about the next year of our journey, as we get close to EBITDA profitability and free cash flow generation."<br /><br /> In fact, brokerages like JP Morgan, and Goldman Sachs expect Paytm to achieve its breakeven target ahead of September 2023.<br /><br /> On Monday, the company announced that it had disbursed 3.4 million loans in October, registering a yearly growth of 161 per cent.<br /><br /> The value of total loans disbursed in October grew to Rs 3,056 Cr (USD 407 million, year-on-year growth of 387 per cent).<br /><br /> Paytm's leadership in offline payments strengthened further with its total merchant subscription devices deployed increasing to 5.1 million.<br /><br /> With its subscription-as-a-service model, the strong adoption of devices drives higher payment volumes, and subscription revenues, while increasing the funnel for merchant loan distribution.<br /><br /> For October, the total merchant gross merchandise value processed through Paytm aggregated to Rs 1.18 lakh crore (USD 14 billion), marking a yearly growth of 42 per cent.<br /><br /> Sharma, in his letter further wrote that the payment revolution continues in India, with merchants and users enthusiastically adopting digital payment technology.<br /><br /> The government's incentives for <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> payments and merchants' adoption of its devices and subscription product, is making payments increasingly "monetizable and profitable" for the company.<br /><br /> Talking about the company's rapidly growing lending business which is now at an annualised run rate of Rs 37,000 crore in the month of October, Sharma said, "In parallel, we are now scaling up lending distribution which can bring financial inclusion to hundreds of millions of people in our country."<br /><br /> "Due to the huge demand for lending in our country, our low penetration and the compounding nature of our lending journey, we are extremely optimistic about the prospects of our lending business," Sharma added. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sebi-approves-adani-groups-open-offer-for-26-stake-in-ndtv/articleshow/95527185.cms">Sebi approves Adani Group's open offer for 26% stake in NDTV</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ongc-q2-results-profit-drops-30-to-12826-crore-as-govt-levies-windfall-tax/articleshow/95528095.cms">ONGC Q2 Results: Profit drops 30% to ₹12,826 crore as govt levies windfall tax</a></strong><br />

Paytm sees no impact from lock-in expiry, trends show heavy buying

<ul><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s IPO surpasses Coal India’s IPO that was executed in October 2010.</li><li>Paytm’s GMP was at <a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms" data-type="tilCustomLink"> ₹20  lower than the issue price of  ₹2,150</a>, on November 17.</li><li>The company listed at a market cap of $17 billion, even though it sought a valuation of $19.9 billion. </li><li>The Vijay Shekhar Shama-led company has raised ₹18,300 crore through this public issue.</li></ul><keyword id="181441" type="General" weightage="20" keywordseo="One97-communications" source="Orion">One97 Communications</keyword>, the parent of the digital payments giant Paytm, made its debut on the stock exchange on Thursday at ₹1,955 on the Bombay Stock Exchange. This is 9% lower than the issue price of ₹2,150. And, analysts at Macquarie have warned that the stock may go down a lot more before it becomes attractive. <br /><br />Analysts at Macquarie, a global investment bank, have set the target price for Paytm at ₹1,200, that’s 44% below the price at which IPO investors got their shares. Macquarie cited the high price of the IPO and the intense competition from the likes of Amazon, Google and Flipkart for its pessimism around Paytm.<br /><br />“People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” said One97 Communications founder and chief executive (CEO) Vijay Shekhar Sharma in his address before the listing ceremony at the BombayStock Exchange.<br /><br />Paytm's shares were trading at ₹1,673 at 12:22 p.m., a discount of nearly 22%. The closing price for November 18 was ₹1564, which is 27% below the issue price.<br /><br /><strong>Paytm is still bigger than Britannia, Bajaj Auto and Zomato<br /></strong><br />The Noida-based Paytm listed at a market cap of ₹1,26,737 crore ($17 billion), which is nearly $3 billion lower than the $19.3 billion-$19.9 billion valuation of the public issue. <br /><br />The fear around the price had set in long before the listing. Paytm’s grey market premium (GMP) — a price at which the share prices are being traded at in the grey market — tumbled down from ₹130 on the first day of bidding on November 8 to a negative ₹30 on Wednesday (November 17). <br /><br />This means that the traders in the grey market are willing to buy the shares at ₹2,130, about ₹20 lower than the issue price.<br /><br />The initial public offering (IPO) by Paytm — owned by Vijay Shekhar Sharma-led One97Communication — is the biggest public issue India has ever witnessed and it surpassed Coal India’s public issue worth ₹15,000 crore executed a decade ago.<br /><br /><div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar Sharma" image="http://pbs.twimg.com/profile_images/813598012173754368/MnHjJnCv_normal.jpg" favoritecount="2066" retweetcount="103" status="Man, I can feel for our cricket team! So many messages, wishes, &amp; kind words. Feels like carrying the hopes and as… https://t.co/B4Wtq8SBiK" createdat="1637199725000" id="1461147669900922888"></div><br />The company has raised ₹18,300 crore from this public issue, of which ₹8,300 crore was raised as a fresh issue. The remaining ₹10,000 crore was raised as offer for sale (OfS), giving partial exits to Alibaba’s Ant Group, Softbank and others.<br /><strong><br />Experts ask investors to wait it out before investing in Paytm's shares</strong><br /><br />Fresh investors should not invest in Paytm at the moment but wait for another 15 days for the stock to consolidate, Kranthi Bathini, Director - Equity strategy at WealthMills securities, told Business Insider.<br /><br />“Serious investors need to wait for a couple of earning quarters and not jump into stocks like what happened in Nykaa,” he added.<br /><br />Nykaa — which had a stellar debut on the stock market last week — crossed the ₹1 lakh crore market cap on the first day of listing. However, the company’s revenue declined to <a href="https://www.businessinsider.in/business/startups/news/nykaa-will-spend-its-ipo-money-on-setting-up-retail-stores-and-repaying-loans/articleshow/84996894.cms">₹1.2 crore in the July to September quarter,</a> which is significantly lower than ₹27 crore it reported in the same quarter last year.<br /><br />Paytm received bids for 9.11 crore shares versus the 4.83 crore shares up for sale, which means that the issue was oversubscribed by 1.8X. About a third of Paytm’s IPO shares were undersubscribed<a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms"> until the second half of the third day of bidding</a>, on November 10. And, the grey market price of the shares kept declining.<br /><br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue Size<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bids Received <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.83 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 9.11 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">63 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">147 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.64 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">216 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PolicyBazaar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.45 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57.24 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paras Defence<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">71.40 lakh <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">217.26 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 2,751 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">71.92 crore<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Source: Stock exchange <br /><br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms" data-type="tilCustomLink">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/used-car-startup-cars-24-not-in-a-hurry-for-ipo-like-droom-and-cartrade-com/slidelist/87743891.cms">INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy</a><br /><br /><br />

Paytm's shares fall 27% on the first day of listing and it may fall even further, warn analysts

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s subsidiary <keyword id="6135170" type="UNKNOWN" weightage="20" keywordseo="Paytm-Money">Paytm Money</keyword> has received the approval from market regulator <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> to start <keyword id="400838" type="COMPANY" weightage="20" keywordseo="stock-broking">stock broking</keyword>. </li><li>The company has also partnered with BSE and NSE. </li><li>Paytm’s parent company is reportedly in talks to raise funding which will take its valuation to $18 billion. </li></ul>Indian fintech unicorn Paytm’s subsidiary – Paytm Money has received approval from Securities &amp; Exchange Board of India (SEBI) the market regulator to start stock broking. With this, one can soon start buying shares through Paytm Money. <br /><br />Additionally, Paytm Money has also signed a partnership with the Bombay Stock Exchange and the National Stock Exchange. In an official blog, the company wrote, “We will be introducing new capabilities &amp; offerings on our platform, such as trading in equities &amp; cash segments, derivatives, ETFs and exchange traded products.” <br /><br />Paytm Money currently offers its users mutual fund investments and had <a href="https://www.businesstoday.in/current/corporate/mutual-funds-paytm-money-vijay-shekhar-sharma-share-trading/story/282818.html">reportedly</a> applied for license for stock broking in October 2018. The company, which has 300 million registered users, will then be able to offer shares and trading to a large number of people, through their phone. <br /><br />While the feature is not live yet, the company is building a reliable platform and is also working on “integrations with both exchanges and depository”.<br /><br />Paytm’s parent company One97 communications has been growing its business through multiple verticals. Be it Paytm Money or the troubled Paytm Mall, the company has been bullish about its growth trajectory. <br /><br />There are reports about One97 communications <a href="https://tech.economictimes.indiatimes.com/news/startups/paytm-raising-up-to-2b-valuation-may-touch-18b/68605124">raising </a>its next round of funding for $2 billion which will take the company’s valuation to $18 billion. Japanese investment firm <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> and Chinese giant <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> are both major investors in Paytm, with 19% and 38% stake respectively. <br /><br /><strong>See Also:</strong><br /><a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce</a><br /><a href="https://www.businessinsider.in/amazon-india-and-amazon-pay-sales-may-increase-as-the-online-retail-giant-expands-physical-presence/articleshow/68590870.cms">After 7 years in India, Amazon has finally learnt that there is more money offline</a><br />

Alibaba-backed Paytm gets greenlight from India's market regulator to launch stock broking services

<br /><ul><li><strong><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> experienced consecutive losses, from nearly ₹9 billion for FY 2016-17 to ₹16 billion for the FY 2017-18.<br /></strong></li></ul><ul><li><strong>Despite the widening loss, Paytm has counted on investments from Berkshire Hathaway, <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> Group and <keyword id="2572690" type="COMPANY" weightage="20" keywordseo="SoftBank-Group">SoftBank Group</keyword> to keep expanding its operations. <br /></strong></li></ul><ul><li><strong>The company’s expenses shot up due to a surge in personnel costs as well as advertising and promotional expenses. <br /></strong></li></ul><ul><li><strong>After the debut in Japan with the launch of <keyword id="2444167" type="PERSON" weightage="20" keywordseo="PayPay">PayPay</keyword>, Paytm is all set to expand into European markets. </strong><br /></li></ul>Paytm’s parent, One97 Communications has<a href="https://www.bloombergquint.com/business/losses-widen-for-paytms-parent#gs.Dp5tQ0o"> recorded a loss of ₹16 Billion</a> for the FY18, which is 2.5 times the revenue recorded for the year. The total revenue climbed to <a href="https://www.livemint.com/Companies/eBavMpOhT3mwIMYlxbtUiI/Paytm-losses-swell-69-to-Rs1490-crore-in-FY18.html">₹3.3 billion, from ₹7.8 billion i</a>n FY17. The company has been trying to cut down on losses since the time it carved out its e-commerce arm from the parent company with a <a href="https://entrackr.com/2018/01/paytm-brings-losses-40/">transfer of assets</a> accounting to ₹6.2 billion at the time of hive-off.<br /><br />However, despite the widening loss, Paytm has remarkably retained its list of investors. The company has counted on investments from Berkshire Hathaway after Alibaba Group and SoftBank Group Corporation that are the <a href="https://www.bloombergquint.com/business/losses-widen-for-paytms-parent#gs.Dp5tQ0o">largest stakeholders</a> for the company with 40% and 20% stake, respectively. Founder, <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, holds a share of 16%.<br /><br />Though the reason for losses are still unanswered, the company’s expenses shot up due to a surge in <a href="https://www.livemint.com/Companies/eBavMpOhT3mwIMYlxbtUiI/Paytm-losses-swell-69-to-Rs1490-crore-in-FY18.html">advertising and promotional expenses</a> covering ₹2.9 billion of the total expense for FY18 as well as ₹5.4 billion towards employee expenses including salary hikes, provident funds and gratuity payments.<br /><br />The company’s online retail business, Paytm mall, which is the third biggest e-commerce retailer in India, deteriorated with a <a href="https://www.livemint.com/Companies/2qbxHBTEys8gGM6uU83wcK/Paytm-Malls-loss-rises-150-times-to-1787-crore-in-FY18.html">loss of ₹1,787 crore</a> on the total revenue. Paytm mall has been putting in all efforts to compete with the players Amazon India and Walmart Inc.’s Flipkart. Nearly 60% of its sales are recorded from offline stores. According to a recent report, Paytm mall has 10 million merchants and is expected to double within a year.<br /><br />The company seems to be looking at a broader aspect of growth since it has launched a mobile-based payment facility ‘PayPay’ in collaboration with SoftBank and Yahoo Japan to get into the global markets. The Paytm founder indicated that they are now going to plan their entry in Europe as their long-term agenda is the expansion of the number of users that roll into electronic transactions.<br />

You Searched For "paytm alibaba" and got 10 results

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Chinese multinational Alibaba exits India, sells its entire stake in Paytm

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Vijay Shekhar Sharma: The controversies of the architect of fintech

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Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm

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Alibaba Cloud is trying to woo Amazon's customers in the most Chinese way possible

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Alibaba won't be making any fresh investments in India: Reports

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Paytm sees no impact from lock-in expiry, trends show heavy buying

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Paytm's shares fall 27% on the first day of listing and it may fall even further, warn analysts

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Alibaba-backed Paytm gets greenlight from India's market regulator to launch stock broking services

Sanchita Dash

Paytm’s losses increased exponentially in FY18 thanks to advertising, personnel costs

BI India Bureau

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