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However, that is still below Paytm's current price of about 727 rupees. And despite the near 6% jump on the day, the stock is still down about 4.5% since the RBI clampdown on Jan. 31.
Paytm moved quickly to cut ties with the payments bank; Sharma resigned as chair of the bank’s board last week. Paytm is now trying to build relationships with third-party banks, like Axis Bank.
Its travel business crossed $500 million in annualised GMV run rate, with 20 lakh tickets booked per month. [18] In March 2015 Paytm received its huge stake from Chinese e-commerce company Alibaba Group, after Ant Financial Services Group, an Alibaba Group affiliate, took 40% stock in Paytm as part of a strategic agreement. [19]
In 2015, Paytm Payments Bank Limited received in-principle approval from the Reserve Bank of India to set up a payments bank and was formally inaugurated on November 28, 2017. [ 6 ] [ 16 ] In the financial year 2020, the bank facilitated more than 485 crore transactions worth ₹4.6 lakh crore. [ 17 ]
Paytm, one of India's first startups to go public, said its consolidated revenue rose 38% to 28.51 billion rupees, with the payments business contributing 61% to the total.
According to Tracxn database obtained by EY, alternative lending as the second biggest receiver of investment in FinTech after Payments sector, at 29% of the total share. [1] India's retail digital lending space has grown significantly in the past decade (2012–22) from US$9 billion to US$270 billion with a CAGR of 39.5%. [ 11 ]
PhonePe and Google Pay both recorded 1 billion transactions in August with a market share of 45.94% and 34.45% respectively in the UPI payment ecosystem while Paytm took 11.94% share with ₹387.85 million transaction. [95]
10-year yield rising For now, bond market professionals are writing off a good portion of the move as a simple makeup for markets pricing in too much easing before the Fed meeting.