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February 04, 2017

Paytm Payments Bank has issued 2,18,000,000 shares to the three shareholders.

  Sarkari Niyukti       February 04, 2017

Paytm Payments Bank has issued 2,18,000,000 shares to the three shareholders.

TOI had reported its in December 9 edition, about Sharma selling 1% of his personal holding in Paytm's parent firm One97 Communications for about Rs 325 crore to invest in the payments bank. Sharma holds 51% stake in Paytm Payments Bank, as per RBI guidelines. Paytm had planned to start its payments bank last year but had to postpone the launch multiple times due to regulatory delays. Post getting the final go-ahead from the central bank, Sharma had said that about Rs 400 crore would be pumped in to the payments bank.

Paytm, which is run by One97 Communications, recently created two separate entities ---Paytm E-commerce and Paytm Payments Bank.
RBI had granted in-principal approvals to eleven payments bank applicants out of the total 41 applications. Three of such license holders—Cholamandalam Distribution Services Ltd, Dilip Shanghvi of Sun Pharma and Tech Mahindra—made a decision of withdrawing their plans to start a payments bank last year.
It is unclear at the moment, how much ownership Alibaba would have in the payments bank. The Chinese internet behemoth is an existing shareholder in One97, and also holds around 40% stake in the recently separated Paytm's online marketplace business, as reported by TOI in its February 3 edition.

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Thanks for reading Paytm Payments Bank has issued 2,18,000,000 shares to the three shareholders.

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