New Delhi: Paytm Bound IPO will change the aggregator business of payment into a new subsidiary Paytm Payments Limited.
It follows the direction of the Bank of India (RBI) reserves.
The company sought the same approval from its shareholders through the extraordinary general meeting on September 23.
This will include paytm online payment gateway business.
Move to the transfer aggregator business transfer to new subsidiaries in accordance with the RBI guidelines.
RBI guidelines from March 17 2020 for payment aggregator settings (PAS) are needed a business fit to be regulated and run by a separate company, after getting a license from the RBI.
Indicative book value is in the range of Rs 275-350 Crore ($ 39m – $ 50 m) which will be paid to Paytm Parent One97 Communications in the same five installments.
Actual consideration will be reduced to the basic book value that appears on August 31, 2021.
Paytm makes a new co for online payment business
