The billionaire founder of Paytm faces a crucial test of investor confidence Friday, when shareholders will decide whether they want him at the helm of a fintech pioneer that made one of the worst debuts in Indian history. Vijay Shekhar Sharma’s role as the chief executive officer is among the items to be voted on … Read more
NEW DELHI: Key benchmark indices Sensex and Nifty50 rallied in four of five sessions last week, producing a solid 1.4 per cent return each. At least 35 stocks from the broader BSE500 index, which is up for the last seven sessions, delivered double digit returns for the week, with every one of five index constituents … Read more
The first six months of 2022 have proved volatile for domestic equity markets. Benchmarks Sensex and Nifty have registered double-digit cuts, while indices used to track second rung counters are down up to 17 per cent so far this year. According to the data from AceEquity, 392 stocks out of the BSE 500 index have … Read more
New Delhi: Global brokerage firm JPMorgan remains bullish on , the parent company of payment aggregator Paytm, but has slashed its target price. The brokerage firm has maintained its ‘Overweight’ rating. JPMorgan sees Paytm at Rs 1,000, down from the earlier target of Rs 1,200. The target price for the counter was Rs 1,350 before … Read more
Mumbai: Investors haven’t had a pleasant experience in India with most jumbo initial public offerings. Super-sized issues such as () in 2021, General Insurance Corporation in 2017, in 2008 and in 2010 have lost money after listing. The slump in some of those denied investors the opportunity to recover even their subscription money. They’ll be … Read more
New Delhi: Shares of One97 Communications, the parent company of Paytm, surged over 4 per cent after the company announced its operating performance for the last quarter of the financial year 2021-22. Vijay Shekhar Sharma, CEO of Paytm, said he expects operating EBITDA breakeven in the next 6 quarters. Meanwhile, the company told exchanges it … Read more
China’s largest fintech conglomerate Ant Group is likely to sell at least 5% of its 30.33% stake in Paytm parent One97 Communications before the latter’s Initial Public Offering (IPO) slated for November, sources aware of the matter told ET. This is because Paytm wants to bring down Ant’s stake to below 25% to comply with … Read more
Mumbai: Digital payments firm Paytm’s shareholders on Monday approved a resolution for the company to raise Rs 12,000 crore in fresh shares through an initial public offering (IPO), according to sources close to the company. This makes the public listing of India’s second most valued startup all but official. The Noida-based fintech firm is now … Read more
Digital payments startup Paytm will ask for shareholder permission to sell about $1.6 billion in new stock as part of what’s set to be India’s largest-ever initial public offering. The company wants to sell 120 billion rupees ($1.61 billion) in new shares plus a potential 1per cent for over-allotment, the company said in a notice … Read more