Paytm to invest Rs 455 Cr in subsidiaries, discontinue First Games

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One 97 Communications Limited, the parent company of Paytm, approved a series of strategic measures at its board meeting on August 25. The board cleared investments of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services through rights issues.

Both are wholly owned subsidiaries and the infusion will not change the shareholding, the company informed through a stock exchange filing.

The company also approved the 100% acquisition of Foster Payment Networks for up to Rs 61 crore to make it a fully owned subsidiary. The Noida-based company…



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Paytm to invest Rs 455 Cr in subsidiaries, discontinue First Games


One 97 Communications Limited, the parent company of Paytm, approved a series of strategic measures at its board meeting on August 25. The board cleared investments of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services through rights issues.

Both are wholly owned subsidiaries and the infusion will not change the shareholding, the company informed through a stock exchange filing.

The company also approved the 100% acquisition of Foster Payment Networks for up to Rs 61 crore to make it a fully owned subsidiary. The Noida-based company…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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