One 97 Communications Ltd Share Price – NSE /  BSE

E-Commerce/App based Aggregator, Mid Cap

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One 97 Communications (Paytm) informed that its wholly-owned subsidiary, One97 Communications Singapore (Paytm Singapore), has approved sale of stock acquisition rights (SARs) held in PayPay Corporation, Japan (PayPay) for Rs 2,364 crore.

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These SARs, acquired by Paytm Singapore in September, 2020 will be sold to a SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to Rs 2,364 crore). Through this deal, PayPay is valued at JPY 1.06 trillion and accordingly, PayPay SARs held by Paytm Singapore are valued at net proceeds of JPY 41.9 billion (after netting off the exercise cost of SARs).

The transaction is expected to be closed in December 2024, subject to the satisfactory completion of all corporate approvals and customary closing conditions.

Paytm Singapore spokesperson said, We are grateful to Masayoshi-san and the PayPay team for giving us the opportunity to together create a mobile payment revolution in Japan. We remain fully committed and will continue to support PayPay's product and technology innovations in future. We are working on introducing new AI-powered features to accelerate PayPay’s vision in Japan.”

The board of Paytm Singapore has approved the sale of the above-mentioned SARs as it has created significant value for the company. The SARs sale net proceeds would fortify the consolidated cash reserves of OCL and help drive future business initiatives, focused on maximizing value creation for shareholders.

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.

The company reported a consolidated net profit of Rs 928.30 crore in Q2 FY25 as compared with net loss of Rs 290.50 crore posted in Q2 FY24. Revenue from operations was at Rs 1,659.50 crore in September 2024 quarter, down 34.1% YoY.

The scrip jumped 2.02% to end at Rs 975.80 on Friday, 6 December 2024.

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One 97 Communications announced that its wholly-owned subsidiary, One97 Communications Singapore Private (Paytm Singapore), has approved sale of Stock Acquisition Rights (SARs) held in PayPay Corporation, Japan (PayPay).

These SARs, acquired by Paytm Singapore in September, 2020 will be sold to a SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion. Through this deal, PayPay is valued at JPY 1.06 trillion and accordingly, PayPay SARs held by Paytm Singapore are valued at net proceeds of JPY 41.9 billion (after netting off the exercise cost of SARs) equivalent to Rs 2,364 crore. The transaction is expected to be closed in December 2024 subject to the satisfactory completion of all corporate approvals and customary closing conditions.

The Board of Paytm Singapore has approved the sale of the above-mentioned SARs as it has created significant value for the Company. The SARs sale net proceeds would fortify the consolidated cash reserves of OCL and help drive future business initiatives, focused on maximizing value creation for shareholders.

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One 97 Communications (OCL), which owns the brand Paytm, has introduced automatic top-up for Paytm UPI Lite. This feature allows users to automatically recharge their UPI Lite balance when it falls below a set limit, ensuring seamless small-value transactions without the need for a PIN. Payments of up to Rs 500 can be made per transaction, with a daily limit of Rs 2000, making it ideal for recurring daily payments.

Paytm UPI Lite streamlines daily transactions—such as purchasing groceries, paying for transportation, managing subscriptions, or settling small bills—by eliminating the need for a PIN. It helps maintain clutter-free bank statements, as routine payments are processed through an on-device wallet without directly accessing the main bank account. Additionally, the company has introduced a UPI statement download feature, enabling users to view and download detailed records of all UPI transactions, including those made via Paytm UPI Lite. This enhancement supports effective expense monitoring and spending management. The Paytm UPI Lite auto top-up feature is live on Yes Bank and Axis Bank handles for select users, and will soon be expanded to all users and remaining partnered banks.

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