Paytm plans ₹100 crore infusion into wealth-tech arm Paytm Money
One97 Communications plans to invest up to ₹100 crore in wholly owned subsidiary Paytm Money through a rights issue, backing its stockbroking, mutual fund distribution and wealth-management operations. The transaction is expected to close by September 30.
Paytm owner One97 Communications plans to invest up to ₹100 crore in wholly owned wealth-tech subsidiary Paytm Money through a rights issue. The investment will support its stockbroking, mutual fund distribution and wealth-management operations.
Why this matters
Paytm's Paytm Money funding plan follows its reported ₹220 crore Q1 profit on ₹2,448 crore revenue and its plan for 50,000 retail outlets across India.
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