Paytm plans rights issue to raise ₹2,250 cr for payments arm
pre-market1 source ↓written by the desknot a recommendation
- raise
- ₹2,250 cr
- to close
- 31 Dec 2023
Paytm’s parent, One97 Communications Ltd, has approved a rights issue to raise up to ₹2,250 cr. This capital will enhance Paytm Payments Services Ltd’s (PPSL) net worth and support working capital needs. The issue is subject to approvals and expected to close by 31 Dec 2023.
This move aims to strengthen PPSL’s position in the merchant payments sector, especially after receiving RBI authorization to operate as a payment aggregator. 📈
Not investment advice. For informational purposes only.