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Tag: Vijay Shekhar Sharma

Paytm to file DRHP for $2.3 billion IPO on July 12
Market

Paytm to file DRHP for $2.3 billion IPO on July 12

New Delhi, 5th July 2021: India's leading payment service provider which accounts for around 60% of online payment transactions Paytm will file a draft prospectus as early as July 12 for a domestic initial public offering (IPO) that seeks to raise $2.3 billion, as per the reports by Reuters. The money will be raised via the sale of Paytm stocks in the Indian stock market at an expected valuation of $24 billion to $25 billion with an option to raise more amount at a later stage. One97 Communications Ltd, the parent of Indian payments firm proposed a $2.3 billion IPO, that will make it India's third-biggest public listing after Coal India in 2010 and Reliance Power in 2008. The prospectus will be filed shortly after Paytm's extraordinary general meeting (EGM) of shareholders in Del...
Paytm & Its founder acquires insurance company Raheja QBE
ACQUISITION

Paytm & Its founder acquires insurance company Raheja QBE

Mumbai, July 6, 2020: Leading digital payments platform Paytm & its founder Vijay Shekhar Sharma acquire Mumbai-based private sector general insurance company Raheja QBE. Started in 2009, Raheja QBE is a joint venture between Prism Johnson Limited and QBE Insurance Group, one of Australia's largest insurers. Prism Johnson Ltd approved divestment of its entire holding of 51 percent in Raheja QBE General Insurance Company Limited (RQBE) to QORQL Private Limited, a technology company with majority shareholding by Sharma and the remaining held by Paytm (owned by One97 Communications Limited), for an aggregate consideration of around $40 million (Rs 289.68 crore). "It is an important milestone in Paytm's financial services journey and we are very excited to welcome Raheja QBE Gene...
Digging Into the Twists & Turns of Paytm Extortion Case
Story

Digging Into the Twists & Turns of Paytm Extortion Case

The case regarding Paytm that got hyped after Vijay Shekhar Sharma’s secretary Sonia Dhawan along with three other Paytm employees blackmailed him for Rs 20 crore against the leak of the confidential information of the company. Sonia Dhawan was the Vice President, Corporations/PR at Paytm and started her career in the company as Vijay Shekhar Sharma's secretary. Being the secretary of the founder, she had access to almost all documents and data of the company. Along with her husband Rupak Jain and Devendra Kumar, who worked as senior manager in the administration department of the company, she planned the extortion and took it forward. These were the allegations because of which they were arrested and taken by the Police, however, the story contains a lot more twist. Let us now know mor...
Paytm Employees Arrested for Blackmailing Vijay Shekhar Sharma for Rs 20 Crore
News

Paytm Employees Arrested for Blackmailing Vijay Shekhar Sharma for Rs 20 Crore

Paytm has been in news for a long time for various purposes. This time, it is something different and shocking. Three Paytm employees along with managing director Vijay Shekhar’s personal secretary have been arrested by the Noida Police on Monday. The step has been taken because the employees allegedly tried to extort Rs 20 crore from their boss. The employees stole the confidential data and blackmailed the founder asking them to pay Rs 20 crore. He was being threatened to leak the confidential information of his company.   #PAYTM कंपनी के मालिक का डाटा चोरी कर रंगदारी मांगने वाले महिला समेत 03 शातिर अभियुक्त गिरफ्तार- थाना सेक्टर 20 नोएडा। #NoidaPolice @Uppolice pic.twitter.com/gJPmuoU3O5 — NOIDA POLICE (@noidapolice) October 22, 2018    The police disclosed th...
The Five Most Inspiring Young Indian Entrepreneurs You Must Know About
INSPIRATIONAL

The Five Most Inspiring Young Indian Entrepreneurs You Must Know About

In the last few years, India has been witnessing a huge growth in the number of startups and thus, the birth of entrepreneurs in the country has also risen. With this, our country has got such an amazing number of talented and hard-working entrepreneurs that have helped India to reach a different level of success. All the business spaces including technology, telecommunication, digital payment, edutech, hospitality among others have been seeing a good amount of expansion across various cities in India. The new-age entrepreneurs have been successful in proving themselves through their box thinking, leadership qualities, and execution styles. Here, we will talk about some of the most inspiring and hard-working young entrepreneurs of India who are changing the game for their generation ...
Paytm’s Founder Vijay Shekhar Sharma Trolled For Kerala Flood Tweet
News

Paytm’s Founder Vijay Shekhar Sharma Trolled For Kerala Flood Tweet

With all the people trying to give their helping hand towards Kerala Flood Relief, Paytm also introduced a feature on its platform through which the users could donate any amount of their choice for helping the people affected in Kerala. Paytm’s founder Vijay Shekhar Sharma also donated an amount of Rs 10,000 towards the Kerala Flood Relief and later did something that got him trolled on the largest social media platform Twitter. He after the donation process on Paytm tweeted that he had donated Rs 10,000 to the Kerala Chief Minister's Disaster Relief Fund through his transaction app. He put up a screenshot of the message stating, “Just did my Rs 10,000 donation towards #KeralaFlood relief. Go ahead and open your Paytm app to donate now!”   He had no idea that his twee...
Paytm To Reach Japan in Collaboration With Softbank Group
News

Paytm To Reach Japan in Collaboration With Softbank Group

With Paytm showing a commendable growth in every aspect, the digital payments giant is planning to launch its operations in Japan in collaboration with Masayoshi Son’s Softbank Group. This event is expected to take place by the end of 2018. People familiar with the matter stated that Son is trying to mark his footprints in this sector as well. The service, as a collaboration with Indian digital payments giant Paytm, will make aggressive use of artificial intelligence for mobile payments and other financial services as well. A number of Paytm employees are working in Tokyo on getting the service up and running. Son, who created the world’s largest technology investment fund, is moving towards a crowded field. Japan’s biggest instant-messaging service ‘Line’ and flea-market app ‘Mer...
Top 5 Entrepreneurs You Should Follow On Twitter
INSPIRATIONAL

Top 5 Entrepreneurs You Should Follow On Twitter

How many of you are active on Twitter? Well, nowadays, the social media networking has become a vital part of our lives and through these platforms, we get to know a lot about the happenings and latest trends of the world. Twitter is the most popular platform for following all the well-known personalities of the world. Twitter has various verified profiles that have proved to be the most successful ones. The people can follow these Twitter accounts and follow the happenings in their life. Here, we have some of the most active entrepreneurs that keep their Twitter profile up to date, and following them can help their followers in various aspects.     1) Anand Mahindra     The chairman and managing director of Mahindra Group, Anand Mahindra has taken ...
Paytm Appoints Ex-RBI Deputy Governor R Gandhi As Advisor
News

Paytm Appoints Ex-RBI Deputy Governor R Gandhi As Advisor

The leading Indian digital payment platform Paytm which is owned by One97 Communications has appointed Rama Subramaniam Gandhi as an advisor to the company. He will be primarily advising the corporate on fee techniques, company governance, compliance and regulations. Gandhi has been the former Deputy Governor of the Reserve Bank of India between 2014 and 2017 working under both Raghuram Rajan and Urjit Patel. The career central banker was a part of the first monetary policy committee. Gandhi, in this regard, said, I have dedicated my whole life to formulate policy and strengthen institutions in the financial services space. I will be happy to share my insights and guide Paytm in the creation of innovative financial services. Along with this, he has also held a place as the head of two...
Paytm’s Vijay Shekhar Sharma, Vickram Singh to Invest 150 Mn in Startups through “Green Fund”
News

Paytm’s Vijay Shekhar Sharma, Vickram Singh to Invest 150 Mn in Startups through “Green Fund”

Paytm Head Vijay Shekhar Sharma and venture capitalist Shailesh Vickram Singh have together launched an environmental protection fund which will be dedicated to investing in startups, companies and individuals working towards mitigating environment-related problems in the country. The new massive fund which is first of its kind will focus on large problems faced by humanity in the areas of food and agriculture, air and water pollution, renewable energy favouring sustainable development. The fund aims to invest up to $150 million in the mentioned sectors keeping itself aligned with the United Nations Sustainable Development Goals. The fund will look up to Institutional and High net-worth investors to raise capital. Moreover, the fund will also aim to build an ecosystem for reducing...
One97 Earns Higher Profits Through Its Legacy Business
BUSINESS

One97 Earns Higher Profits Through Its Legacy Business

India’s leading mobile internet company, One97 Communications Ltd. that owns Paytm carries on to make some profits through its inherited mobile non-core services business. According to the detailed financial statement filed with Registrar of Companies (RoC), the profit is considered to be 45% of the total revenue of One97 in the Financial Year 2017. One97, founded by Vijay Shekhar Sharma delivers commerce services and mobile content to millions of mobile consumers through India’s most widely deployed telecom applications cloud platform. The company also invests in early-stage mobile companies through the One97 Mobility Fund (OMF). However, the legacy business of the mobile internet company is the value added services like caller tunes, mobile marketing, talk time recharges etc. The c...
Paytm Trims Losses 39% to Rs 899.6 Crore in FY17
BUSINESS

Paytm Trims Losses 39% to Rs 899.6 Crore in FY17

India's leading digital wallet company Paytm, has reduced its losses to Rs 899.6 crore in the financial year 2016-17 compared to the previous fiscal, as per regulatory documents. The company had posted a loss of Rs 1,496.7 crore in 2015-16 fiscal against a total income of Rs 597.8 crore, as per documents filed by the company with the corporate affairs ministry. The documents, sourced by data intelligence company Paper.vc, showed that One97 Communications' total income had grown over 38 percent to Rs 828.6 crore in 2016-17 fiscal. One97 Communications' employee benefits expense in FY17 grew to Rs 333.87 crore, compared to Rs 143.13 crore in the previous fiscal. Paytm CFO and senior vice president Madhur Deora said, "the company invested over Rs 2,000 crore in the fiscal ended Marc...