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paytm earnings: Paytm witnesses slowdown in two core businesses of merchant payments, consumer lending

In the first four months of 2024, Paytms user base shrank by 24% to 80 million, while the count of its active devices dropped by about 1 million over February and March on account of attrition, according to its quarterly filings with the stock exchanges. User attrition happened as a result of regulatory action by the RBI, it said.
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awfis ipo: Retail portion of Awfis IPO fully subscribed within hours of opening

IPO, which includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 12.2 million shares, closes on May 24. Around 75% of the IPO is reserved for qualified institutional bidders (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors. The companys shares will list on the stock exchanges on May 30.
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Paytm revenue impact: Paytm expects near-term impact on revenue, profitability from regulatory action: Vijay Shekhar Sharma

Paytms parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.
Rajni Sekhri Sibal Vijay Shekhar Sharma Srinivasan Sridhar Ashok Kumar Garg Communications Ltd Paytm Payments Bank Ltd

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