Paytm streamlines structure, transfers offline payments business to subsidiary

One 97 Communications Limited (Paytm) has transferred its offline merchants payment business to Paytm Payments Services Limited ("PPSL"), a wholly-owned subsidiary. This move, effective midnight on November 30, 2025, follows shareholder approval on November 23, 2025, and is undertaken at book value, estimated at approximately INR 960 crores as of March 31, 2025. The transfer aligns with regulatory requirements under the Reserve Bank of India’s Master Directions on Regulation of Payment Aggregators dated September 15, 2025.

As part of this business transfer, Ripunjai Gaur, chief operating officer - offline payments, and Deependra Singh Rathore, chief technology officer - payments, both senior management personnel of Paytm, will transfer to PPSL effective midnight on November 30, 2025. They will cease to be senior management personnel of One 97 Communications Limited.

In a related development, Paytm completed the acquisition of remaining stakes in Foster Payment Networks Private Limited (9.99% equity), Paytm Insuretech Private Limited (67.55% equity), and Paytm Financial Services Limited ("PFSL") (51.22% equity) on November 28, 2025. This makes these entities, along with PFSL's investees, wholly-owned stepdown subsidiaries, further streamlining the company's group structure.