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<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>, declared its Q2FY25 results today, announcing a one-time, exceptional profit of Rs 1,345 crore during the quarter, thanks to the sale of its entertainment ticketing business. The company's PAT (profit after tax) stood at Rs 930 crore. <br /><br />Notably, without this windfall gain, Paytm's finances would still be in red, with the company racking up losses worth Rs 415 crore. Paytm was in red in the year-ago period as well, incurring losses worth Rs 290.5 crore.<br /><br />This windfall profit also improved Paytm's EBITDA by Rs 388 crore on a QoQ basis. <br /><br />The company's revenue also saw a slight uptick of 10.5% quarterly to Rs 1,659 crore, as opposed to Rs 1,501 crore in the previous quarter. But on a year-on-year basis, Paytm's revenue dipped significantly by 34%. The company also announced that it has entered into a DLG (<keyword id="23641220" type="General" weightage="20" keywordseo="Default-Loss-Guarantee" source="keywords">default loss guarantee</keyword>) model for its merchant loans of about Rs 225 crore with SMFG India Credit. Under this arrangement, Paytm will be first in line to take a hit in case of a loss that emerges from borrowers defaulting or skipping their payments. <br /><br />"Following the regulatory framework and the emerging market practice, we see increased willingness from lenders to partner and allocate more capital in the default loss. The DLG model will help to increase disbursements with the existing partners and expand partnerships with new lenders for the loan distribution,” said the company in its earnings release today. <br /><br />The company's revenue from its payment business also inched up 9% on a quarterly basis, along with its revenue from <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which also grew by 34% QoQ. At present, Paytm's total merchant subscriptions stand at 1.12 crore, with the company garnering 3 lakh new merchants during the quarter. <br /><br />During the previous quarter, Paytm's <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> (GMV) also inched up by 5% on a sequential basis, which experts anticipate will continue in the coming quarters, just as India braces for the festive season. <br /><br />Per its release, Paytm aims to achieve <keyword id="23641219" type="General" weightage="20" keywordseo="EBITDA-profitability" source="keywords">EBITDA profitability</keyword> (before ESOPs) by the fourth quarter of this financial year. However, investors remained unimpressed with Paytm's performance, with its share slipping by around 3.96% during the day to trade at Rs 697.20. The stock has a YTD (yield-to-date) of 7.91% during the year.

Paytm declares Q2 results, earns Rs 930 crore as windfall gains by way of sale of ticketing business to Zomato

<keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword> Limited (OCL) that owns the brand <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, India's leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, today announced an investment of Rs100 crore in Gujarat International Finance Tec-City (<keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>) to build a global financial ecosystem, ahead of the Vibrant Gujarat Global Summit 2024, in Gandhinagar. The company will make the investment over a period of time and will seek requisite approvals for the same.<br /><br />With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new <keyword id="6358815" type="General" weightage="20" keywordseo="tech" source="Orion">tech</keyword> for users across the globe looking to invest in India. As the pioneer of real-time payments and settlements in India, the company will replicate its success to now reduce friction in cross-border remittances with faster and cost-effective solutions, driven by Artificial Intelligence.<br /><br />Leveraging its leadership as a tech innovator, Paytm will also set up a development centre in GIFT City to build the above solutions and provide a technology backbone. This centre will create jobs and house engineers to develop a suite of world-class financial products and services.<br /><br />Vijay Shekhar Sharma, founder and CEO, said, "GIFT City is set to become a global financial hub, further putting India on the world map for innovation. The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities. This will enable us to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale. We are excited about GIFT City serving as an exemplary innovation hub for cross-border activities, enabling overseas <keyword id="6359051" type="General" weightage="20" keywordseo="investors" source="Orion">investors</keyword> the flexibility to maintain foreign currency accounts. Furthermore, we intend to leverage this investment to establish a dedicated development center."<br /><br />Paytm is India's leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, Paytm builds technologies that help small businesses with payments and commerce. Paytm's mission is to serve half a billion Indians and bring them to the mainstream economy with the help of technology. <br />

Paytm to invest Rs 100 Crore in GIFT City; plans to offer AI-driven cross border remittance

Mumbai, <keyword id="19969771" type="General" weightage="20" keywordseo="crypto" source="keywords">Crypto</keyword> currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>) has been critical of new-age currencies like bitcoins, saying they pose systemic risk to the financial systems. <br /><br /> "Crypto currencies cannot be called currencies as they don't have any underlying value," P <keyword id="19944928" type="General" weightage="20" keywordseo="vasudevan" source="keywords">Vasudevan</keyword>, an executive director at the RBI, said during a panel discussion organised by IIM-Kozhikode here. <br /><br /> Ultimately it is a call that the government has to take on how to tackle crypto currencies, the official said. <br /><br /> Currently, bitcoins have no legal backing in India and investors have to pay a tax on the income earned by trading in them. <br /><br /> In the backdrop of the action against <keyword id="19907220" type="General" weightage="20" keywordseo="paytm-payments-bank" source="keywords">Paytm Payments Bank</keyword> and curbs imposed on some international card providers, Vasudevan said self-regulation can protect the fintech sector better. <br /><br /> He also said that mechanisms could be looked at to highlight bad behaviour.

Crypto currencies have no underlying value, says RBI official

<ul><li><strong><keyword id="6358355" type="General" weightage="50" keywordseo="forex" source="Orion">Forex</keyword> traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias.</strong></li><li><strong>On Thursday, the <keyword id="6355302" type="General" weightage="20" keywordseo="RUPEE" source="Orion">rupee</keyword> settled 9 paise higher at 82.38 against the US dollar.</strong></li><li><strong>The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 104.53.</strong></li></ul><br />The rupee appreciated 19 paise to 82.19 against the US dollar in early trade on Friday on broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. <br /><br />At the interbank foreign exchange, the domestic unit opened at 82.30 against the dollar, then gained further ground to touch 82.19, registering a rise of 19 paise over its previous close. <br /><br />On Thursday, the rupee settled 9 paise higher at 82.38 against the US dollar. <br /><br />Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 104.53. <br /><br />"With China relaxing its COVID restrictions such as mass testing, lockdowns and quarantine requirements, it is widely feared that cases and deaths would shoot up, causing further widespread economic disruptions. This is something we need to keep a close eye on," <keyword id="14979511" type="General" weightage="80" keywordseo="ifa-global-research-academy" source="Orion">IFA Global Research Academy</keyword> said in a research note. <br /><br />Brent crude futures, the global oil benchmark, advanced 0.89 per cent to USD 76.83 per barrel. <br /><br />In the domestic equity market, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 25.7 points or 0.04 per cent higher at 62,596.38. The broader NSE Nifty rose 19.25 points or 0.1 per cent to 18,628.60. <br /><br /><keyword id="6438315" type="General" weightage="80" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,131.67 crore, according to exchange data. <br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-open-in-the-green-paytm-rises-on-buyback-proposal-hcl-tech-declines/articleshow/96101305.cms">Sensex, Nifty50 open in the green – Paytm rises on buyback proposal, HCL Tech declines</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/football-players-age-faster-than-others-says-a-harvard-study/articleshow/96101209.cms">Football players age faster than others, says a Harvard study</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-future-is-connected-80-of-traditional-tv-viewers-want-to-switch-in-a-year-says-finecast-kantar/articleshow/96087259.cms">The future is connected: 80% of traditional TV viewers want to switch in a year says Finecast Kantar</a>

Rupee gains 19 paise to 82.19/$ on dollar weakness and firm equities

<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

<keyword id="3519905" type="General" weightage="20" keywordseo="paytm-ceo" source="Orion">Paytm CEO</keyword> <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> has said that macro conditions have affected global fintech companies, including <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, but the fintech industry will soon bounce back, driven by payments revenue.<br /><br />Speaking at IAMAI's 'India Digital Summit 2022', Sharma said, "We are a payments company and everyone understands it and payment has a derivative revenue line item in financial services and is driven by credit."<br /><br />"The success of Paytm will depend on what we do with monetisation, led by financial services. Payment is a revenue line item which is growing massively," he emphasised on Wednesday.<br /><br />Sharma said that globally, we probably went in at a time (for the public IPO) when QE, free money and many other parameters brought in a little bit of spookiness into the market, in terms of pricing.<br /><br />"Some South American companies are 70 per cent down. Well, that's not the reason for it completely, that's a macro reason," Sharma said.<br /><br />Globally, fintech players and emerging market players saw weak support from the markets as PayPal, Afterpay, Affirm, Square and many others were down almost 30 per cent on an average.<br /><br />Most recently, Grab, the Singapore-based company, made its market debut and is also a 'super app' saw its share price drop by over 20 per cent on listing day.<br /><br />Paytm made a big bang debut in the stock market. The company's $2.5 billion IPO was not just India's largest but also the largest APAC fintech IPO ever and also the second largest fintech IPO of 2021 globally.<br /><br />Overall, <keyword id="8069901" type="General" weightage="20" keywordseo="paytm-ipo" source="Orion">Paytm IPO</keyword> is the fourth largest fintech stock debut.<br /><br />"Paytm, which opened at an offer price of Rs 2,150 braved the markets on a tough day and its share price was also impacted. But Paytm came out stronger than how most other fintech companies fared during the same time," said Dr Ravi Singh, Research Head, Share India.<br /><br />Analysts at JP Morgan, Goldman Sachs and Morgan Stanley have assigned a 'BUY' rating to the Paytm stock with a target price of Rs Rs 1,630-Rs 1,875.<br /><br />The company during its second quarter earnings results showed how its revenue grew by 64 per cent on a yearly basis to Rs 10.9 billion.<br /><br />During the July-September quarter, Paytm saw its contribution profit grow to Rs 2.6 billion in Q2 FY 2022, year-on-year increase of 592 per cent. The contribution margin jumped to 24.0 per cent of revenue from 5.7 per cent the previous year.<br /><br />"Paytm has grown to be a financial services giant, which brings with it more monetizable opportunities. The share price of the company will correct itself as the company grows as has been seen in the market journey of US tech companies like Facebook and Tesla," said Singh.<br /><br />The company in a recent filing said that its lending business saw 4.4 million loan disbursals through the platform (y-o-y growth of 401 per cent), and value of Rs 21.8 billion (run-rate of $1.2 billion) (y-o-y growth of 365 per cent).<br /><br />The company's GMV for Q3 FY 2022 stood at Rs 2,501 billion ($33.6 billion).<br /><br />"Year-to-date GMV is already higher than all of FY 2021 , led by significant non-UPI GMV growth," said the company in its regulatory filing.<br /><br /><strong>SEE ALSO</strong><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/zomato-offers-12-lakh-insurance-grant-to-family-of-delivery-executive-killed-in-a-road-accident/articleshow/88874578.cms" data-type="tilCustomLink">Zomato employees will contribute ₹12 lakh to the family of delivery partner who was killed in a road accident</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/swiggy-will-deliver-stuff-on-tvs-motors-electric-scooters-following-footsteps-of-zomato-amazon-and-flipkart/articleshow/88872404.cms" data-type="tilCustomLink">Swiggy will deliver stuff on TVS Motors’ electric scooters</a><br /><br /><a href="https://www.businessinsider.in/tech/enterprise/news/tcs-vs-infosys-vs-wipro-how-indias-three-it-giants-stack-up-against-each-other/slidelist/88860676.cms" data-type="tilCustomLink">TCS vs Infosys vs Wipro Q3 results – here’s how India’s three IT giants stack up against each other</a><br />

Global market conditions affected Paytm's IPO: Vijay Shekhar Sharma

<ul><li>Paytm is reportedly seeking a valuation of over $20 billion, however advisors have recommended it to go for a lower valuation.</li><li>Sources at Paytm claim that the company decided to skip with the pre-IPO round in order to adhere to the timeline it set for itself.</li><li>Paytm is planning to raise ₹16,600 crore through this IPO, half of which will be through fresh issues.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — has reportedly decided to skip its pre-initial public offering (IPO) sale over valuation differences. <br /><br />The company is seeking a valuation of over $20 billion based on the feedback of its initial investors. However, advisors have recommended it to go for a lower valuation. The development was first <a href="https://www.bloomberg.com/news/articles/2021-10-21/paytm-mulls-scrapping-pre-ipo-sale-plan-on-valuation-differences" data-type="tilCustomLink">reported</a> by Bloomberg. <br /><br />A source aware of the development told Business Insider that Paytm has decided to do away with the pre-IPO round in order to adhere to the timeline it set for itself. Besides this, the company source highlighted that they are not aware of any valuation difference between the investors and Paytm’s management. <br /><br />Meanwhile, the Bloomberg report suggests that Paytm may still go for a pre-IPO sale at a lower valuation. <br /><br />Business Insider India has reached out to Paytm seeking more detail about the report and cancellation of their pre-IPO sale.<br /><br />Previously a Bloomberg <a href="https://www.bloomberg.com/news/articles/2021-07-12/paytm-said-to-consider-270-million-share-sale-in-pre-ipo-round">report</a> had highlighted that Paytm is planning to raise $270 million (₹2,028 crore) from its pre-IPO round. <br /><br />Pre-IPO is an option for companies to raise capital from private investors before the public issues. It’s not a mandatory requirement and companies can choose to opt for it based on their requirements. <br /><br />Paytm is planning to raise <a href="https://www.businessinsider.in/business/news/paytm-has-filed-for-2-2-billion-ipo/articleshow/84465551.cms">₹16,600 crore ($2.2 billion) </a>through this IPO. Half of this capital would be raised as a fresh issue and the remaining will be a secondary issue, giving partial exits to Paytm’s investors. <br /><br />This will be India’s biggest IPO so far, surpassing Coal India’s, which raised ₹15,000 crore in October 2010.<br /><br />Securities and Exchange Board of India (SEBI) is <a href="https://www.businessinsider.in/stock-market/news/sebi-approves-fino-payments-banks-1300-crore-ipo-paytm-next-in-line/articleshow/86755408.cms">yet to approve the IPO</a>.<br /><br />Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks.<br /><br />The company is currently valued at $16 billion, after <a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-opens-next-chapter-at-paytm-as-it-raises-1-billion-from-t-rowe-softbank-and-others/articleshow/72217033.cms">raising </a>$1 billion in November 2019 from T Rowe Price, Ant Group and Softbank Vision Fund. According to several media reports, Paytm is expected to be valued somewhere between $25 billion to $30 billion post issue<br /><strong><br />SEE ALSO</strong><br /><br /><a href="https://www.businessinsider.in/india/news/the-depth-of-indias-vaccination-drive-gujarat-tops-the-list-up-and-bihar-yet-to-vaccinate-a-third-of-their-population/articleshow/87186515.cms" data-type="tilCustomLink">The depth of India’s vaccination drive — Gujarat tops the list, UP and Bihar yet to vaccinate a third of their population</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/reliances-oil-to-chemicals-business-seems-to-be-in-the-right-spot-to-leverage-chinas-climate-crackdown/articleshow/87152945.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-cements-its-lead-over-airtel-in-both-total-as-well-as-active-subscribers/articleshow/87156675.cms">Reliance Jio cements its lead over Airtel in both total as well as active subscribers</a><br /><br /><a href="https://www.businessinsider.in/business/telecom/news/reliance-jios-september-earnings-to-be-driven-by-aggressive-subscriber-additions/articleshow/87178742.cms">Reliance Jio’s September earnings to be driven by aggressive subscriber additions</a><br />

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