Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), One 97 Communications has informed that it has been informed by Paytm Cloud Technologies, its wholly-owned subsidiary (‘PCTL’), that the Board of Directors of PCTL at its meeting held on February 03, 2025 and concluded at 08:15 am (IST) has approved an investment of USD 1 million (equivalent to INR 8.70 crore) in Seven Technology LLC incorporated in Delaware for acquisition of 25% stake and execution of transaction documents in this regard. Seven Technology LLC is the parent company of Dinie Correspondente Bancário e Meios de Pagamento Ltda. (‘Dinie’), Brazil based API-first embedded finance start-up. Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil. Post consummation of the transaction, Seven Technology LLC and Dinie will become associate entities of the Company. In continuation of its disclosure dated January 20, 2025, the company believe that its technology led merchant payments and financial services distribution business model in India, has the potential for expansion in similar international markets. The relevant details as required under the SEBI Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 is enclosed as Annexure - I. This disclosure will also be hosted on the Company's website: https://ir.paytm.com/.
The above information is a part of company’s filings submitted to BSE.
Company Name | CMP |
---|---|
One97 Communications | 803.05 |
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