One 97 Communications completes Foster Payment Networks acquisition

One 97 Communications Limited (OCL) announced on October 10, 2025, the completion of its acquisition of Foster Payment Networks Private Limited ("Foster"), an erstwhile associate company. OCL acquired 90.01% equity shares of Foster from Paytm Financial Services Limited (PFSL) as part of a strategic internal restructuring designed to simplify the group structure and enhance business efficiency.

The transaction, valued at approximately INR 55.20 Crores for the 90.01% stake, was carried out at arm's length. Foster, a provider of technology services, has transitioned from an associate company to a subsidiary of OCL. The remaining 9.99% equity shares are expected to be acquired from other shareholders by December 31, 2025, for an estimated INR 6.20 Crores, making Foster a wholly-owned subsidiary.

Foster was incorporated on February 23, 2021, and reported total incomes of INR 4.12 Crores in FY 2024-25, INR 4.22 Crores in FY 2023-24, and INR 2.54 Crores in FY 2022-23. The acquisition aligns with OCL’s objective to streamline operations and ensure better alignment within the Group.