Rs 38000000000 deal! no more Chinese ownership! Paytm is now 100% made in India, as this company exits…. in…
The mobile payments company is 100 per cent Indian-owned after Jack Ma's Ant Financial exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for around Rs 3,803 crore.
This transformation became official with the recent exit of Antfin (Netherlands) Holding BV, which sold its residual 5.84 per cent stake in Paytm for about Rs 3,800 crore through a block deal. With this, Chinese ownership in the company has been reduced to zero, marking a significant shift in its shareholding pattern.
Vijay Shekhar Sharma's conviction reflected a forward-looking vision of building a world-class, homegrown technology champion with a strong foundation in the country's regulatory and economic fabric. PayTm Q1 FY26 Results
The timing of this structural change is also significant. It follows a strong Q1 FY26 performance, where the Noida-based firm posted a net profit of Rs 123 crore, its first-ever fully profitable quarter, surpassing analyst expectations. Operating revenue rose 28 per cent year-on-year to Rs 1,918 crore, while contribution profit surged 52 per cent year-on-year to Rs 1,151 crore.
(With Inputs From PTI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
21 minutes ago
- Hindustan Times
Russian Prez Putin to visit India for annual summit, but dates not finalised yet
NEW DELHI: A specific timeframe has not been finalised for Russian President Vladimir Putin's proposed visit to India for an annual summit, people familiar with the matter said on Thursday. Prime Minister Narendra Modi receives Russian President Vladimir Putin for a meeting at Hyderabad House in New Delhi in December 2021. (PTI FILE IMAGE) Putin's visit figured during National Security Adviser Ajit Doval's meetings with senior Russian officials in Moscow on Thursday. Russia's state-run media inaccurately cited Doval as saying that Putin would travel to India in late August, the people said on condition of anonymity. 'The NSA, during his visit to Moscow, said that the dates of President Putin's visit to India are being worked out,' one of the people cited above said. 'The time of end-August being reported is incorrect,' the person said. Doval did not indicate a specific date or time during his engagements in Moscow, the people said. Putin is expected to travel to India this year for the annual India-Russia Summit, following Prime Minister Narendra Modi's visit to Moscow for the summit in 2024. Though the two sides have been involved in initial preparations for the visit, they have so far not finalised any specific timeframe for the trip, the people said. Doval is in Moscow for meetings with senior Russian officials to strengthen security and economic ties. The trip had been scheduled earlier but gained importance following US President Donald Trump's decision on Wednesday to impose an additional 25% punitive tariff on India for purchasing Russian oil. External affairs minister S Jaishankar is also expected to travel to Russia in the third week of August for a meeting of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), the primary mechanism for overseeing trade and economic cooperation.
India Today
21 minutes ago
- India Today
Despite war and warnings, US traded more with Russia than ally Ukraine
United States President Donald Trump on August 6 announced an additional tariff of 25 per cent on India, taking the total to 50 per cent, making tariffs on India one of the highest in the tariffs, as per Trump, are a sanction against India for importing fuel from Russia. Trump alleges that India, by doing this, has been financing the Russian invasion of data by the US Census Bureau presents a different picture.A deep dive into the monthly trade data of the US with Russia and Ukraine reveals that the US has been doing more trade with Russia than it is with since the war began in February 2022, the US-Russia total trade has stood at USD 25.233 billion, while the trade with Ukraine stands at a mere USD 9.69 we merely look at import data for the two nations, as Trump's major concern is India financing Russia through imports, we see a trend that exposes US hypocrisy. In 2022, US imports from Russia stood at USD 14.43 billion, while imports from Ukraine stood at $1.503 billion In 2023, US imports from Russia stood at USD 4.57 billion, while imports from Ukraine fell to USD 1.39 billion In 2024, US imports from Russia stood at USD 3 billion, while imports from Ukraine stood at USD 1.17 billion In 2025, till June, US imports from Russia stood at USD 2billion while imports from Ukraine stood at merely USD 769 trend is clear, in terms of imports. Even though substantially reduced, the US continues to buy from Russia more than it does from all, the US has imported goods worth over USD 22 billion from Russia, ever since Ukraine was attacked, while has only imported goods worth USD 4 billion in the same time period from we take a look at the percentage increase in Indian trade cooperation with Ukraine, when it comes to Ukrainian imports to India, since the the war began during FY 2021-22, India imported USD 3.38 billion worth of goods from Ukraine, as per data published by the Indian Embassy in Kyiv, while in 2024-25 this data stood at USD 1.2 billion, which stands more than what the US buys from the war-torn the data is clear: While the US has accused India of arming and financing the Russian war, it is the US which is financing Russia more than it is financing Ukraine through trade, while India is balancing its partnership without taking a side and without financing any one side.- EndsTune InMust Watch
Indian Express
21 minutes ago
- Indian Express
18-year-old Indian-origin boy wins $1 million in Dubai Duty Free draw
Wayne Nash D'Souza, an 18-year-old Indian-origin boy, has hit the jackpot in the Dubai Duty Free Millennium Millionaire raffles. Wayne, an aerospace engineering student at the University of Illinois Urbana-Champaign purchased the winning ticket from Dubai airport as he was leaving for the US for his studies on July 26. Born in Dubai to parents who hail from Mumbai, Wayne said he and his family are regular participants in Dubai Duty Free promotions. 'I think my parents buy tickets regularly when they travel. I have been travelling since I was five, but they have probably been doing it for over 30 years,' Wayne was quoted as saying by Khaleej Times. 'Since I was going to the US for four years, I wanted to try myself,' he said, adding that 'I used my dad's account because I didn't have time to set up an account since turning 18 yet. I was feeling lucky and had a gut feeling that something good is going to happen.' Wayne said he was asleep when he received the call revealing him as the winner of the million-dollar lottery. 'I was half asleep and exhausted from a full day at Universal Studios. I didn't believe it at first, it felt surreal,' he said. When asked what he planned to do with the prize money, the teenager said it would be used to fund the education of himself and his sister. 'It will go toward me and my sister's education, and some of it will be used to buy property or invest in Dubai,' Wayne said. According to Gulf News, Wayne is the 255th Indian national to win $1 million through the Dubai Duty Free draw since its launch in 1999. According to Dubai Duty Free, the Millennium Millionaire Promotion offers participants a one-in-5000 chance to win $1 million, and so far, just 10 people have won the grand prize twice.
