Adani’s Manorview Developers to Build Paytm’s IT Complex in Noida

Adani Group's Manorview Developers will develop IT and ITes complex of fintech firm One97 Communications, which owns Paytm brand, in Noida, the company said in a regulatory filing.

Here's a detailed breakdown of the latest development involving Adani Group and Paytm:

Project Overview

• Developer: Manorview Developers Pvt Ltd, a wholly-owned subsidiary of Adani Infrastructure and Developers.
• Client: One97 Communications Ltd, the parent company of Paytm.
• Location: Sector 159, Noida.
• Size: 10-acre plot allotted by the Noida Authority in 2018.
• Purpose: Construction of an advanced IT and IT-enabled services (ITES) complex to support Paytm’s long-term tech operations.

Shift in Development Strategy

• Original Plan: Paytm had entered a Joint Development Agreement (JDA) with ACE Builders and Promoters in January 2024.
• ACE was expected to raise capital and lead the development.
• Why the Change?: The JDA with ACE Builders was scrapped due to non-compliance with Noida rules and byelaws.
• New Approach: Paytm will now develop the project independently, appointing Manorview Developers as the Engineering, Procurement, and Construction (EPC) contractor.

Strategic Implications

• Signals Paytm’s commitment to expanding its tech infrastructure.
• Strengthens Adani Group’s footprint in digital infrastructure and fintech collaboration.
• Expected to boost local employment and contribute to Noida’s growing tech ecosystem.

India’s fintech infra is maturing from fragmented innovation to institutional-grade development, with players like Adani entering the fray. Paytm’s move signals a shift from startup-style agility to enterprise-grade infrastructure, aligning with global fintech maturity trends. Adani’s involvement could catalyze more private-sector participation in fintech infra, especially in Tier-1 cities.

Softbank Exits Paytm at Loss of ~ $150 Million

Japan's Softbank investment arm, the Softbank Vision Fund, exited from fintech major Paytm during the June quarter. The exit resulted in a loss of around $150 million. Softbank had initially invested about $1.5 billion in One97 Communications, which owns the Paytm brand, in tranches back in 2017.

The exit was in line with Softbank's plan, although the company did anticipate the loss at that time. Before Paytm's initial public offering (IPO) in 2021, Softbank held around 18.5% stake in Paytm.

As of the quarter ending in March 2024, SoftBank held a 1.4% stake in Paytm. However, by June of the same year, its shareholding dropped below the 1% mark.

During the IPO, it held a 17.3% stake through SVF India Holdings (Cayman) Ltd and 1.2% through SVF Panther (Cayman) Ltd. SVF Panther sold its entire stake during the IPO for about $225 million. Paytm's share price has not matched its issue price of Rs 2,150 apiece to date.

Besides Softbank, Warren Buffett's Berkshire Hathaway haa also made an exit from its investment in Paytm-parent firm One97 Communications. The exit resulted in a loss of about 40% on the high-profile investment made more than five years ago.

Back in 2018, Berkshire Hathaway invested approximately $260 million in Paytm, acquiring a 3% stake in the financial services startup at a valuation of around $10 billion. However, the investment giant sold its remaining position in Paytm for $121.6 million, securing a return of less than $160 million on its initial investment.

Despite Paytm's IPO debut at a valuation north of $20 billion, its share price fell significantly afterward. The Indian firm has since rebounded, ending at $10.73 per share following fast revenue growth and improved finances in recent quarters. 

NPCI Grants Approval to Paytm's Parent to Participate in UPI as a Third-party Application Provider (TPAP)

National Payments Corporation of India (NPCI), on Thursday, said in a press release that it has granted approval to One97 Communications Limited (OCL), the parent company of Paytm, to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model.

Four banks (Axis Bank, HDFC Bank, State Bank of India, YES Bank) shall act as PSP (Payment System Provider) banks to OCL. YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL.

@Paytm handle shall be redirected to YES Bank. This will enable existing users and merchants to continue to do UPI transactions and AutoPay mandates in a seamless and uninterrupted manner.

OCL has been advised to complete migration for all existing handles and mandates, wherever required, to new PSP banks at the earliest.

Berkshire Hathaway Invests $300 Mn in Paytm for 2.9% Stake

Noida-based One97 Communications, the parent entity of India’s largest digital payments firm, Paytm, has received $300 million (Rs 21.79 billion) in fresh funding from Berkshire Hathaway Inc. The deal is the Warren Buffett-led firm’s first investment in the country.

IndianWeb2, via ET, had first reported in last month that Warren Buffet-owned firm is set to buy a stake in Paytm, India’s largest payment services provider, and talks with Berkshire Hathaway have been on since early February this year to raise about $358 million (~ Rs 2,000-2,500 crore) at a valuation of about $10-12 billion.

According to regulatory filings sourced from Paper.vc, One97 Communications issued 1.7 million shares to BH International Holdings on September 27. Post the investment, Berkshire Hathaway will have around 2.9 per cent holding in the Indian firm.

Paytm’s value post the investment will stand at Rs 731 billion ($10 billion).

Earlier this month, Berkshire Hathaway had confirmed it was investing in Paytm, but clarified that Buffett himself wasn't involved in making the deal. The investment is yet to be officially announced by either Berkshire Hathaway or Paytm.

“We feel both excited and humbled by this endorsement. Berkshire’s experience in financial services, and long-term investment horizon is going to be a huge advantage in Paytm’s journey of bringing 500 million Indians to the mainstream economy through financial inclusion,” Paytm boss Vijay Shekhar Sharma had said in a statement soon after.

The investment comes at a time when Paytm is going up against global giants Google and Facebook-owned WhatsApp. Both the US giants have either launched or are in the process of launching their digital payment products built on top of India’s indigenous payment system UPI.

The fund raise comes close in time of funding of US-based payment startup Stripe, which has just raised $245 million, valuing it at whopping $20 billion. Post the funding, Stripe is all set to enter India and Southeast Asia. The startup has already launched its engineering hub at Singapore.

Source - Business Standard

Berkshire Hathaway Invests $300 Mn in Paytm for 2.9% Stake

Noida-based One97 Communications, the parent entity of India’s largest digital payments firm, Paytm, has received $300 million (Rs 21.79 billion) in fresh funding from Berkshire Hathaway Inc. The deal is the Warren Buffett-led firm’s first investment in the country.

IndianWeb2, via ET, had first reported in last month that Warren Buffet-owned firm is set to buy a stake in Paytm, India’s largest payment services provider, and talks with Berkshire Hathaway have been on since early February this year to raise about $358 million (~ Rs 2,000-2,500 crore) at a valuation of about $10-12 billion.

According to regulatory filings sourced from Paper.vc, One97 Communications issued 1.7 million shares to BH International Holdings on September 27. Post the investment, Berkshire Hathaway will have around 2.9 per cent holding in the Indian firm.

Paytm’s value post the investment will stand at Rs 731 billion ($10 billion).

Earlier this month, Berkshire Hathaway had confirmed it was investing in Paytm, but clarified that Buffett himself wasn't involved in making the deal. The investment is yet to be officially announced by either Berkshire Hathaway or Paytm.

“We feel both excited and humbled by this endorsement. Berkshire’s experience in financial services, and long-term investment horizon is going to be a huge advantage in Paytm’s journey of bringing 500 million Indians to the mainstream economy through financial inclusion,” Paytm boss Vijay Shekhar Sharma had said in a statement soon after.

The investment comes at a time when Paytm is going up against global giants Google and Facebook-owned WhatsApp. Both the US giants have either launched or are in the process of launching their digital payment products built on top of India’s indigenous payment system UPI.

The fund raise comes close in time of funding of US-based payment startup Stripe, which has just raised $245 million, valuing it at whopping $20 billion. Post the funding, Stripe is all set to enter India and Southeast Asia. The startup has already launched its engineering hub at Singapore.

Source - Business Standard

10 Mn Customers Sign Up For Paytm Payments Bank Account In The Beta Launch

Paytm Payments Bank recently launched mobile-bank with zero charges on all online transactions and no minimum balance requirement. The bank is focused on driving financial inclusion by bringing half a billion Indians into the mainstream economy. Paytm Payments Bank Chairman, Vijay Shekhar Sharma owns 51% stake in the company, with the remaining share owned by Indian firm One97 Communications Pvt Ltd.

Paytm played an important role in democratizing access to digital payments for hundreds of millions of Indians ranging from small kirana store-owners and daily wage laborers to large retailers. As millions of customers have experienced the power of convenient digital payments within the large Paytm ecosystem, they have been waiting eagerly for the Paytm Payments Bank launch. This has led to over 10 million customers signing up for a Paytm Payments Bank account in the beta launch.

Owned and governed solely by Indians, Paytm Payments Bank was launched on May 23, 2017, with Renu Satti as its MD & CEO and is headquartered in the National Capital Region, India.

Commenting on the development, Renu Satti said, “We are glad to receive this opportunity to build first-of-its-kind banking services and serve our nation. We will bring unbanked and underbanked fellow Indians to the mainstream economy and help them become a part of the financial services ecosystem. We are excited about the incredible response to our consumer beta launch and are looking forward to further expanding our services.”

Paytm Payments Bank offers Savings Accounts with no minimum balance requirement and a free RuPay Digital Debit Card. This card comes with a free insurance cover up to Rs. 2 Lacs in case of death or permanent total disability. KYC customers can open a PPB account instantly on their smartphone. The company is also looking to partner with Universal Banks to offer additional financial services to its customers to roll out a full bouquet of banking services that include term deposits, retail & SME loans.

The bank’s board has Indian stalwarts such as former RBI Executive Director PV Bhaskar, former Shriram Group Director GS Sundarajan and Saama Capital Director Ash Lilani. Vijay Shekhar Sharma (Chairman – Paytm Payments Bank) and Renu Satti (MD & CEO - Paytm Payments Bank) are the other directors.

Earlier this month, Sharma and Paytm’s parent company One97 Communications have infused Rs. 60 crore more into the Paytm Payments Bank. Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to hundreds of millions of unserved or underserved consumers across India.

Paytm’s Parent Company Pumps In Rs 60 Cr More In Payment Bank

Vijay Shekhar Sharma and Paytm’s parent company One97 Communications have infused Rs. 60 crore more into the Paytm Payments Bank. With Sharma owning the majority stake in the bank, Sharma and One97 had earlier invested about 220 crore in the payments bank.

Sharma has invested Rs. 30 crores in this tranche, while One97 Communications has put in Rs.23 crore. According to documents with the Registrar of Companies as per research platform Tofler, the rest has come from One97 Communications India, a subsidiary of One97. The shares were allotted on August 1, according to the documents.The new allotment brings the

The new allotment brings the authorized capital of the bank to Rs.400 crore and the paid up capital of a Rs.278 crore.

The Paytm Payment Bank was unveiled in May 2017, becoming the third payments bank in the country, after Airtel and India Post.

It offers customers a 4 percent annual interest rate which the lowest among the three payments banks that is, Airtel offers about 7.3 percent interest and India Post about 5.5 percent annually.

Having branch in Noida, Payment Bank had said that it will expand to 31 branches and 3,000 customer service points in the first year. The bank is focused on driving financial inclusion with a target of opening 500 million bank accounts by 2020.

The Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to hundreds of millions of unserved or underserved consumers across India.

The company is aiming to replicate this success in the banking sector and further drive cashless transactions with the Paytm Payments Bank. The current Paytm Wallet will move to the Paytm Payments Bank in the same capacity, i.e. KYC Wallet as KYC Wallet and minimum detail KYC Wallet as minimum detail KYC Wallet. Users will continue to be able to use their Paytm Wallet in the same manner as before.

Paytm Mall On-Boards Over 800 Personnel From One97; Set To Hire 2,000 More This Year

In May 2017, Paytm de-merged its e-commerce business into a separate entity by the name of Paytm Mall to address India’s large online retail opportunity. This new entity started off with the same shareholding as the parent company of Paytm, One97 Communications Limited and raised $200 million from SAIF Partners and Alibaba Group Holding. Paytm Mall works with retailers and brands to build their online stores integrated with supply chain in a partner model. It is currently targeting to launch its new app in a coming month.

And now Paytm has moved over 800 personnel actively involved in the growth of its e-commerce business from One97 Communications to the newly incorporated Paytm Mall. The company is also planning to hire 2,000 new personnel across various business and tech roles to effectively scale its operations.

Paytm Mall is focused on building the country’s largest e-commerce platform that enables brand and local shopkeepers in growing their business. It is innovating on multiple aspects of discovery and logistics among others to emerge as the preferred destination for consumers looking for the widest range of products sold by trusted sellers. The firm has put together a team with the most diverse set of experiences and skill-sets to handle key roles - Saurabh Vashishtha for marketing, Amit Bagaria for customer experience, Bhushan Patil for logistics and Sunil Goyal for Product and Technology. This team will continue overseeing various categories across the company.

Commenting on the development, Amit Sinha, Chief Operating Officer, Paytm Mall said, “I am excited to work with our long-standing colleagues to build the most trusted online shopping platform. We will make the largest selection of products available to customers on their smartphone, while empowering brands and local shopkeepers to sell online and offline with equal ease.”

Paytm Mall is also scaling its partner network by adding another 3,000 Paytm Agents to its existing workforce as it goes deeper into tier II and tier III cities, digitizing catalogues of neighborhood shopkeepers and trusted brands. It will leverage mobile technology to make this wide retail inventory available to millions of Indians, while helping these retailers reaching out to a wider set of customers around them.

Paytm Mall’s O2O (Offline-to-Online) platform is positioned to contribute towards the growth of every stakeholder in the retail ecosystem including shopkeepers and brands. It will boost the business of local stores by bringing new customers who will be able to discover them on Paytm Mall and conveniently place an order. Retailers also get access to valuable customer analytics for better targeting of existing users. Additionally, the customers who walk into the shops to scan the Paytm Mall QR code will be able to follow the store, place orders and get exciting offers.

Recently, Paytm Mall had launched Campus Icon, a nation-wide programme to offer industry-focused learning to college students.

Paytm Payments Bank Joins UPI Bandwagon

In line with the government’s initiative to build digital payments in the country, Paytm Payments Bank is all set to adopt Unified Payments Interface (UPI) by August.

This will enable consumers and merchants to transact with ease on its banking platform by using a virtual payment address issued by the bank. With 50 banks already live on the platform, Paytm Payments Bank will be the latest one to join the UPI bandwagon.

Commenting on the development, Renu Satti, CEO, Paytm Payments Bank, said “ We will soon enable the seamless creation of UPI IDs on our platform so that users can send and receive money to each other, and for merchant payments. It will be one of the most important components of our payments platform and enable us to bring cost-efficient digital payment services to every Indian. Our significant consumer base makes us well-positioned to become a large issuer of UPI handles, driving its adoption in the country.”

Launched in May 2017, Payments Bank is all set to open 31 branches and 3,000 customer service points in a year. The recently launched bank with zero charges on online transactions and no minimum balance requirement has been designed to help achieve financial inclusion and bring half a billion Indians into the mainstream economy.

Run and operated by One97 Communications, Paytm founder and CEO, Vijay Shekhar Sharma owns a majority stake in the company, with the remaining share owned by One97 Communications Pvt Ltd.

The Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to hundreds of millions of unserved or underserved consumers across India.

Paytm Payments Bank is aiming to replicate the success in the banking sector and further drive the adoption of digital transactions.

Paytm Unveils Payments Bank, Plans To Open 500 Mn Accounts By 2020

Finally, after waiting for one long year Paytm has unveiled its Payments Bank, becoming the third payments bank in the country, after Airtel and India Post.

It will offer customers a 4 percent annual interest rate which the lowest among the three payments banks that is, Airtel offers about 7.3 percent interest and India Post about 5.5 percent annually. Apart from offering its customers cashbacks on deposits, Payment bank will offer zero charges on all online transactions and no minimum balance requirement.

Commenting on the development, Vijay Shekhar Sharma, Chairman, Paytm Payments Bank said, “RBI has given us an opportunity to create a new kind of banking model in the world. We are proud that our customer deposits will be safely invested in government bonds, and be used for nation building. None of our deposits will be converted into risky assets”.

Having its first branch in Noida Paytm plans to open 31 branches and 3,000 customer service points in a year. The company is setting up KYC centres across India to complete KYC for customers and make them eligible for a Payments Bank account.

Paytm Payments Bank accounts will initially be available on an invite-only basis. In the first phase, the company will roll out its beta banking app for its employees and associates. Paytm customers can request an invite by going to www.PaytmPaymentsBank.com or on the Paytm iOS app.

Every customer to open a Payments Bank account will get a cashback of Rs. 250 as soon they bring deposits of a total of Rs. 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge. For savings accounts, the company would also offer an interest of 4% per annum. The company will also offer current accounts to its millions of merchants.

“ Our ambition is to become India’s most trusted and consumer-friendly bank. Leveraging power of technology, we aim to become the preferred bank for 500 million Indians by 2020,” said Renu Satti, CEO, Paytm Payments Bank.

Run and operated by One97 Communications, Paytm founder and CEO, Vijay Shekhar Sharma owns a majority stake in the company, with the remaining share owned by One97 Communications Pvt Ltd. The Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to hundreds of millions of unserved or underserved consumers across India.

The company is aiming to replicate this success in the banking sector and further drive cashless transactions with the Paytm Payments Bank. The current Paytm Wallet will move to the Paytm Payments Bank in the same capacity, i.e. KYC Wallet as KYC Wallet and minimum detail KYC Wallet as minimum detail KYC Wallet. Users will continue to be able to use their Paytm Wallet in the same manner as before.

Paytm Raises $1.4 Billion From SoftBank in a Largest Funding Round from Single Investor

In what could be seen as the largest funding round from a single investor for any Indian technology startup, Paytm -- India’s largest digital payments startup, raised $1.4 billion from Japan's SoftBank Group, reported Bloomberg today.

Softbank has made funding into One97 Communications, the parent company that owns and operates PayTM, this will help the Noida headquartered startup expand its user base of 220 million and build a large offering of financial services products, the company said in a emailed statement to Bloomberg. SoftBank will join its long-time partner Alibaba Group Holding Ltd. as a major shareholder and will take a seat on the Paytm board.

Post this funding One97 now values at $7 billion.

IndianWeb2 first reported about Softabank's investment into PayTm, on 19 April. And, the report also suggested about Snapdeal's merger with either Flipkart or PayTM.

Paytm will use the raised funds to acquire new 500 million customers and launch a slew of financial services products such as wealth management, deposits, money lending among others.

SoftBank, which has not seen any success in its India portfolio -- Snapdeal & Ola, is now banking on Paytm’s payments business to replicate Alibaba Group's success in China. Notably, losses incurred by Snapdeal and Ola in 2016 have made SoftBank lose about $350 Million [Read Here].

Paytm plans to invest about $1.6 billion (around Rs10,000 crore) over the next 3-5 years towards enabling half-a-billion Indians to join the mainstream economy, the company said in a statement on Thursday. “As a part of this vision, the company will soon launch the Paytm Payments Bank, a mobile-first product that will reach every corner of the nation, and focus on the millions of unserved and under-served Indians,” it added

Recently, Paytm got nod for its Payments Bank which will be a mobile-first app that aims to reach India’s corners where bank branches and ATMs are yet to penetrate. The bank will focus on ‘the millions of unserved and underserved Indians,’ the company said in its statement on Thursday.

Reliance Capital Sells 1% Stake In Paytm For Rs 275 Crore

Back in February, we reported how Anil Ambani's Reliance Capital was contemplating selling its 1 per cent shareholding in the Delhi NCR-based payment and commerce company Paytm to Chinese e-commerce giant Alibaba. And now comes the news, that the deal has been inked.

Reliance Capital has reportedly sold its share in Paytm to Alibaba and its payments affiliate Ant Financial for a whopping amount of Rs 275 crores.

It is important to note here, that Reliance Group's financial services arm had spent just Rs 10 crore for this stake in Paytm. The company made this investment seven years ago in the year 2010 just ahead of the proposed IPO for Paytm parent company, One97 Communications, which was aborted at a later stage.

Reliance Capital, which is a constituent of CNX Nifty Junior and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India’s leading and most valuable financial services companies in the private sector. Over the last couple of months, the industry rumour mill was hot with rumours that the company is in talks with a lot of potential buyers for the sale of its 1 per cent share in Paytm. The partial sale of its stake ended up churning out over 25 times the gains for the ADAG Group firm.

Alibaba and Ant Financial's move to buy Reliance Capital's 1 per cent stake in Paytm is a well thought out move. The two companies together own a 40% stake in One 97 Communication, Paytm's parent company. The two had most recently hiked their stake in the online retail unit when Alibaba Group led a whopping $200 million round in Paytm E-commerce, which was recently demerged from One 97. Paytm E-commerce has been modelled after Alibaba's famous digital platform TMall.

Not only Alibaba and Ant Financial, but there are several other suitors in the industry which are vying for a secondary stake in Paytm's parent company One 97 Communications, which is currently valued at $4.8 billion. However, unfortunately, it is all talks and no action for them till now.

Prior to this, Paytm founder and CEO Vijay Shekhar Sharma had recently sold his 1 per cent holding in One97 Communications to raise about Rs 325 crore. The money has been put into the group's payments bank operations which are expected to commence by the end of this month.

Reliance Capital Sells 1% Stake In Paytm For Rs 275 Crore

Back in February, we reported how Anil Ambani's Reliance Capital was contemplating selling its 1 per cent shareholding in the Delhi NCR-based payment and commerce company Paytm to Chinese e-commerce giant Alibaba. And now comes the news, that the deal has been inked.

Reliance Capital has reportedly sold its share in Paytm to Alibaba and its payments affiliate Ant Financial for a whopping amount of Rs 275 crores.

It is important to note here, that Reliance Group's financial services arm had spent just Rs 10 crore for this stake in Paytm. The company made this investment seven years ago in the year 2010 just ahead of the proposed IPO for Paytm parent company, One97 Communications, which was aborted at a later stage.

Reliance Capital, which is a constituent of CNX Nifty Junior and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India’s leading and most valuable financial services companies in the private sector. Over the last couple of months, the industry rumour mill was hot with rumours that the company is in talks with a lot of potential buyers for the sale of its 1 per cent share in Paytm. The partial sale of its stake ended up churning out over 25 times the gains for the ADAG Group firm.

Alibaba and Ant Financial's move to buy Reliance Capital's 1 per cent stake in Paytm is a well thought out move. The two companies together own a 40% stake in One 97 Communication, Paytm's parent company. The two had most recently hiked their stake in the online retail unit when Alibaba Group led a whopping $200 million round in Paytm E-commerce, which was recently demerged from One 97. Paytm E-commerce has been modelled after Alibaba's famous digital platform TMall.

Not only Alibaba and Ant Financial, but there are several other suitors in the industry which are vying for a secondary stake in Paytm's parent company One 97 Communications, which is currently valued at $4.8 billion. However, unfortunately, it is all talks and no action for them till now.

Prior to this, Paytm founder and CEO Vijay Shekhar Sharma had recently sold his 1 per cent holding in One97 Communications to raise about Rs 325 crore. The money has been put into the group's payments bank operations which are expected to commence by the end of this month.

Paytm in Talks to Raise $300M from Goldman Sachs, Temasek, Mediatek

Mobile payment and ecommerce platform Paytm, is in advanced talks to raise fresh funding of about Rs 2,000 crore ($300 million) from Taiwanese semiconductor maker MediaTek, Goldman Sachs, Singapore's Temasek and other investors, as reported by ET. Existing investors, which include Alibaba and its payments affiliate Alipay besides venture capital firm SAIF Partners, will also be participating.

According to multiple source, the new round is expected to value the company at close to $5 billion. The money will be deployed across all of Paytm's businesses -digital payments, online marketplace and the upcoming payments bank.

Paytm was valued at $2.3 billion in the last round of capital infusion in June.

Paytm rivals in payments include Mobikwik, which recently raised $40 million from South Africa's Net1, and Snapdeal-owned Freecharge, which has been looking to raise a $150-300 million round since October 2015. Flipkart is also expected to launch its mobile payments business under PhonePe next week, and plans to invest $100 million initially.

Over the last 12 months, Paytm has been pushing its offline to online business aggressively, entering areas like movie ticketing, petrol pump payments, taxi payments and education fees among others. This is expected to be key drivers in monthly gross merchandise value (GMV) increasing to $500 million by December from $300 million in July, Sharma told ET in an interview earlier this month. Sharma had also said that Paytm is running at a 1% operating loss, which includes online marketing, payment gateway and cashback costs.

As of now, Paytm's Founder Vijay Shekhar Sharma holds 21.33% stake in One97 communications (Paytm's parent company) and its earliest venture capital investor SAIF Partners has 30.81%. Alibaba holds 8.53% while Alipay is the single largest shareholder with a 32.41% holding.

Paytm To Raise $200 Million From Private Equity Firms

Paytm, one of India's leading mobile commerce player and consumer brand of Noida based startup One97 Communications is about to get funding of $200 million by the end of this year and has mandated investment banks Citi and Goldman Sachs to raise $150-200 million from private equity firms for a minority stake.

If everything will go as expected then Paytm will be latest online player to venture into fund raising for growth capital at a time when the e-commerce market in India is booming.

Vijay Shekhar Sharma, chairman and managing director of One97 Communications that operates through the Paytm brand, said SAIF Partners, which owns 40% in the company, will do a pro-rata investment - put in 40% of the funds raised while the rest of the funds will come in from new investors. Sharma did not reveal names of private equity players who have been approached.

Paytm is the largest mobile wallet company and also the largest mobile commerce, or m-commerce, company in terms of number of transactions with over 14 million a month, including mobile recharges, tickets and shopping deals. With over 20 million active users, it has an annualised transaction value of $400-500 million.

Earlier in 2011, Paytm had raised $10 million in its third-round of funding from SAP Ventures, the corporate venture capital arm of the software-maker SAP AG. The company's valuation during this round was nearly $300 million.

Paytm is the consumer brand of India's leading mobile internet company One97 Communications. One97 investors include SAIF Partners, Intel Capital and SAP Ventures.

Currently, Paytm have 20 million users apprx.. Paytm has scaled to more than 15 million orders per month and 7 million app downloads. With Paytm app users have the option of recharging and shopping from whenever, anywhere and are equipped with a secure online wallet called Paytm Cash.

Paytm Launched Bus Ticket Bookings via Android and iOS apps

Today when mobile internet consumers are growing at fast pace, a very steadily growing sector of "Mobile bus ticket booking" in India spreading fast and giving healthy competition to key players such as MakeMyTrip.com.Today Paytm.com, which is already a well established online destination for online recharges and bill payments for Mobile, DTH, 3G data, and utility services, has launched bus ticket bookings via its own Android and iOS apps.

Paytm.com is offering for smartphone users to book bus tickets online for over 12000 bus routes across India. For iPhone/iOS users they can download the app from here, while Android phone users could click here to download the app on their phones.

There are few mobile services in India that offer bus tickets booking, some prominent ones are RedBus.in via RedBus Mobile and an Android app (here) from myBusTicket.in.

Paytm.com, which is a part of Noida based One97 Communications claims to recharge your mobile prepaid connections via mobile itself within 10 seconds. The bus ticket app have features like previous order details and booking history will make booking another bus ticket a job of seconds as well.

 

 

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New Delhi, May 13, 2013:  Paytm.com today announced the launch of Bus Ticket Bookings on its Android and iOS apps. This coincides with Paytm’s recent celebration of crossing a million app downloads on Google's Android Play Store. Additionally, customers will now find more exclusive deals on this app.

With this, Paytm has taken another stride in mobility. Now customers can book tickets anywhere, anytime using their Smartphones. Features like previous order details and booking history will make booking another ticket a quick few minutes’ job. Harinder Takhar, CEO of Paytm said, “A utility like this is an indispensable tool in the hands of any Smartphone user. Now our customers will have everything from recharge to travel, right on their mobiles. While we have already been noticed for our quick and trustworthy online bus booking service, Paytm app has also made news with its million plus downloads and close to 14,000 five star ratings. We're now all set to reach out to many more millions.”

Paytm.com besides being a popular recharge destination offering online bus booking for over 12000 bus routes across India, has quickly become the fastest growing online bus tickets booking service.

Accessible on iOS and Android platforms, this app comes with another new feature for recharge customers. Now they can avail exclusive offers from select brands such as Bookmyshow, Domino’s and Café Coffee Day and more. These are offers Paytm has sourced in a bid to bring more value to its customers. Speaking about this, Takhar said, “Consumers now would not have to look at any other place for a better deal or coupon ever. We've always believed in bringing the best to our users and these coupons are yet another step in that direction.”

Existing Paytm app users will be able to access the new features by upgrading their app, while new users can visit iTunes or Android App Store to download. Quick links for new users: iPhone users can click here, while Android phone users could click here to download the app on their phones.

About Paytm

Paytm is India’s preferred destination for prepaid recharges and bill payments for Mobile, DTH, 3G data, and utility services. Its online Bus Ticket booking service caters to over 12,000 bus routes all over India. Available at Paytm.com and all app stores, it offers incredible user experience and support.

Backed by marquee investor like Intel Capital, SAIF Partners and SAP ventures, Paytm is part of One97 Communications, India’s mobile Internet pioneer.

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