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Paytm’s 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.

The leader of India's emerging financial industry, Paytm, is navigating stormy seas after revealing its first-ever drop in sales.

One 97 Communications Ltd., the firm that powers Paytm, reported a challenging Q4FY24 that was marked by a dramatic increase in net loss and a decline in revenue.

Decline comes after RBI ordered Paytm's banking affiliate to halt much of its business

Several high-profile companies and startups including Tata Capital, Hexaware, Ola Electric, and Swiggy are preparing for their public market debut in 2024-25.Investment bankers expect the IPO lineup in FY25 to be twice as many as in FY24, including some that are expected to exceed $1 billion