One 97 Communications, parent company of Paytm, shares gained 5.2 per cent on Monday, logging an intraday high at Rs 782.8 per share on BSE. The northward rally in the stock came after the company arm Paytm Cloud Technologies’ board approved an investment of $1 million (Rs 8.7 crore) in Seven Technology LLC.
Around 12:06 PM, Paytm share price was up 4.41 per cent at Rs 776.4 per share on BSE. In comparison, the BSE Sensex was down 0.67 per cent at 76,988.21. The market capitalisation of the company stood at Rs 49,497.9 crore. The 52-week high of the stock was at Rs 1,063 per share and the 52-week low was at Rs 310 per share.
Paytm Cloud Technologies will acquire a 25 per cent stake in Seven Technology LLC with the $1 million investment.
“We have been informed by Paytm Cloud Technologies Limited, our wholly-owned subsidiary, that the Board of Directors of PCTL at its meeting held on February 3, 2025 and concluded at 08:15 a.m. (IST) has approved an investment of $1 million (equivalent to Rs 8.70 crore) in Seven Technology LLC incorporated in Delaware for the acquisition of a 25 per cent stake and execution of transaction documents in this regard,” the filing read.
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.
The company believes technology-led merchant payments and financial services distribution business model in India, has the potential for expansion in similar international markets.
This latest investment in an overseas market comes weeks after Paytm sold its stake in a Japanese company for $250 million.
One97 Communications Singapore approved the sale of Stock Acquisition Rights (SARs) held in Japan-based PayPay Corporation last year. Paytm’s Singapore unit acquired these SARs in September 2020.
In the past one year, Paytm shares have 69 per cent against Sensex’s rise of 8 per cent.
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