3/2/2024 0 Comments Paytm investmentThis was at a steep discount of 9 to Thursday’s close price of the stock. Singapore E-Commerce Pvt Ltd sold 2,14,31,822 shares at Rs 642.74 apiece. The total size of the category-II alternative investment fund (AIF), called VSS Investments Fund, is Rs 20 crore, with an additional green shoe option of Rs 10 crore. Sharma earlier said the company during the reported quarter has achieved its target for operational profit, excluding ESOP cost. China’s Alibaba Group has sold 3.3 stake in Paytm parent One97 Communications through the open market on Friday and mopped Rs 1,378 crore. Paytm chairman Vijay Shekhar Sharma has launched a fund that will back startups in new frontier technologies, including artificial intelligence (AI), and electric vehicles. The move allows Paytm to pare its exposure to Ant Financial, making the. Revenue from operations jumped about 42 per cent to Rs 2,062.2 crore during the quarter, from Rs 1,456.1 crore in the year-ago period. The deal is being executed at Paytm’s share closing price on August 4, making the 10.3 Paytm stake worth 628 million. The company had posted a net loss of Rs 778.4 crore in the same period a year ago. In the December quarter, Paytm recorded a consolidated net loss of Rs 392 crore. The Chinese e-commerce company had a 6.26 per cent stake in Paytm, which it sold in two tranches in January and February. In February, Alibaba completely offloaded its stake in the fintech giant. Japan's SoftBank and China's Alibaba Group are said to be in talks to offload their stake in the digital payments platform through a secondary stock deal, according to a report. Paytm is currently backed by Japan’s SoftBank Group Corp. Oil And Natural Gas Corporation.SVB Financial Group told its employees in a memo, earlier on Friday, that they should work from home until further notice. Share PriceĪdani Ports & Special Economic Zone. On Thursday, investment research firm Bernstein issued a note saying Paytm was expected to double its revenue to 1 billion by financial year 2023, with one-third of that coming from non-payments businesses. Most Searched Stocks Hindalco Industries. We need to be clear on whether we are allowing FDI, too many questions and retrospective outlook is hurting our market. They need to take the market's view before coming to a decision. SN: Government needs to pass the data privacy bill and make enforcement strong. If the law of the land says we want FDI, then we should be happy and proud that we are a hub for investment. Whether I am a subsidiary of Flipkart or owned by Walmart or when I was an independent startup, I am proud of all three scenarios because all three from a government standpoint are very strong. We can't go about being opportunistic in dissing investors and investment whenever it suits us. If India says it wants to go global then we start respecting certain boundaries. Check details below: Paytm Stock Performance & Return: Current market price of Paytm share is Rs 775.05 per share. Can somebody ask Sequoia where their LPs come from? InMobi now claims Roposo is a made in India app but anybody who has been using InMobi have been talking about being a global ad network and their biggest market was China. If you buy Paytm share now, you can obtain likely return of 36. In September 2018, Berkshire had invested 300 million (2,179 crore) for 2.6 stake (17.02. SN: Mobikwik's largest investor is Sequoia. Berkshire Hathaway, the Warren Buffet-owned investment powerhouse, has made a profit of 16 million on its sale of 1.4 million shares in the IPO of Paytm, which tanked 27 on the day of listing. These are two completely different topics.ĮT: Would you have said this if you were not owned by Walmart and were a standalone Indian startup? Because companies like Mobikwik now claim they are the only truly Indian payments app. Do we know if Paytm is giving out data? Did you know that Facebook is giving your data? These can't be used as reasons to say that Paytm's Vijay Shekhar Sharma or any other employee of that organisiaton is working against India. SN: If we are going to celebrate as a country that Jio has raised over Rs 1 lakh crore, then we should be able to celebrate capital coming in too. That one can't say Paytm must be targeted because Alipay has a stake in it and Alibaba has a stake in Paytm Mall because there is concern about what kind of control these investors exercise? Nigam, who runs Walmart-owned PhonePe, also took swipes at Mobikwik and InMobi, stating that both these companies ride on foreign capital and the China market, so they can't be opportunistic now.ĮT: So you are saying that there needs to be a distinction. In a candid and fiery interview with ET NOW's Chandra R Srikanth, Nigam strongly defended Paytm and its founder Vijay Shekhar Sharma, hitting out at critics who called Paytm Chinese because it is funded by Alibaba. But Sameer Nigam, the founder and CEO of leading UPI app PhonePe is an exception. It's not often that you have a company publicly defending its arch-rival.
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