As of March 31, 2021, the company has a 333 million+ client base and 21 million+ registered merchants. However, it is still a loss-making company and very aggressively priced. Incorporated in 2000, One 97 Communications Ltd is Indias leading digital ecosystem for consumers as well as merchants. “The company has a huge customer base with strong brand positioning, and it has an early mover advantage in digital payment services. Investors now await the September quarter earnings of the firm, which is scheduled to be announced on 27 November. The disclosure, however, did little to calm jittery investors as the stock continued its slide. Its average monthly active users in the September quarter stood at 57 million. Paytm said its monthly transacting users also grew by 35% to 63 million in October from 47 million a year ago. On Sunday, Paytm reported an overall gross merchandise value of ₹83,200 crore (roughly $11.2 billion) in October as part of its disclosures to the stock exchanges. We, therefore, question its ability to achieve scale with profitability," Macquarie said in a note to its clients. Unless Paytm lends, it can’t make significant money by merely being a distributor. Competition and regulation will drive down unit economics and/or growth prospects in the medium term.
“Dabbling in multiple business lines inhibits Paytm from being a category leader in any business except wallets, which are becoming inconsequential with the meteoric rise in UPI payments. In July 2021, the company filed the offer document for the largest ever initial public offering (IPO) in India’s history. 1 It was founded in 2000 by Vijay Shekhar Sharma. Anchor investors have a lock-in of 30 days.Īhead of its market debut on Thursday, brokerage Macquarie initiated an underperform rating on the stock and reduced its target price by 40% to ₹1,200 a share, citing Paytm’s lack of focus and direction, while calling the company a cash guzzler. One97 Communications Ltd (OCL) is the parent entity of leading Indian mobile payments and financial services company Paytm headquartered in Noida, India. The top 10 anchor investors comprising BlackRock, CPPIB, government of Singapore, Mirae Asset, Marshall Wace, Sands Capital, Fidelity, Schroder, Vanguard and Monetary Authority of Singapore have lost a combined ₹2,800 crore, at least on paper. After two trading sessions, this investment has been reduced to ₹5,210 crore. Directors & Signatories of Paytm E-Commerce Private Limited. The company had allotted nearly 38.3 million shares to 74 anchor investors worth ₹8,235 crore a day ahead of the IPO. Paytm has eroded ₹51,194 crore in investor wealth from the IPO valuation of ₹1.39 trillion. However, it recovered from the day’s low to end trading at ₹1,360.30 on BSE, down 13%. On Monday, the stock hit a low of ₹1,271 and declined as much as 20%. The company's marketplace offers products across categories like fashion, electronics, consumer durables, and home furnishings, enabling customers to buy products at discounted rates from the comfort of their homes. In addition, he also owns 21 million stock options. Description Developer of an online marketplace designed to offer a wide range of domestic and international products. Shareholding Pattern Paytms large shareholders include 31 foreign companies, owning 45.57 crore shares or 70. Sharma, who founded the company in 2000, holds a 9.1% stake, or 60 million shares, in Paytm. With no specified promoters, its fully owned by public shareholders.
Sharma’s stake in Paytm was valued at $2.3 billion at the IPO price of ₹2,150 per share. Nykaa shares dropped as much as 9.4% on Tuesday.After Monday’s 13% plunge, Paytm’s market value has dived below ₹1 trillion, singing investors who piled into the red-hot IPO market. and Nykaa, formally called FSN E-Commerce Ventures, both went public last year and have seen their shares trounced when freed up for market. Paytm has plenty of company in dealing with market turbulence. “Our journey to build a scalable and profitable financial services business has just started.”
WHO OWNS PAYTM FREE
We are aware of the expectations that Paytm carries, and I assure you that we are on the right path to profitability and free cash flows,” Sharma said. “One year ago, we made our way to the public markets. In a letter earlier this week to shareholders, Sharma, 44, sought to quell market anxiety over the shares’ continued capriciousness. Nevertheless, the analyst recommended buying Paytm shares given the company’s progress in boosting revenue and moving toward profitability. “We recognize that lock-in expiry (86 per cent of Paytm’s outstanding shares) in Nov ‘22 may represent an overhang on the stock,” analysts Manish Adukia, Rahul Jain and Harshita Wadher of Goldman Sachs Group Inc.
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