![]() ![]() ![]() In several of the categories where it operates, Paytm is a market leader. Today it operates a payments gateway, e-commerce marketplace, ticket booking, and also sells insurance and digital gold. ![]() Paytm, which was launched in 2009 to help users easily make digital payments from their phones and top up credit, has expanded to a wide range of services in the past decade. The startup, which competes with PhonePe and Google Pay in the world’s second-largest internet market, plans to use the fresh capital of $577 million to broaden its payments services offering and about $269 million to enter into new initiatives and explore acquisition opportunities, it said. TechCrunch reported earlier this month that Paytm has held talks with Goldman Sachs and Fidelity to raise a pre-IPO round. Paytm, which was until recently the most valuable startup in India, has said it may raise up to $268 million in a pre-IPO round. The Noida-headquartered firm - backed by Alibaba (which, alongside Ant Financial, owns 36% of Paytm), Berkshire Hathaway and SoftBank (owns about 18% stake) among others - said (PDF) it will issue new shares worth $1.1 billion and offer sale worth of $1.1 billion. The company's operating performance improved in the current quarter also as Paytm in a BSE filing on June 5 said it continued witnessing the expansion of the consumer base with average monthly transacting users (MTU) at 9.2 crore for the quarter to date (average for April and May 2023), up 24 per cent year-on-year (YoY).īesides, it said its leadership in payment monetisation continued in May, as subscription devices for payment devices like Soundbox and POS machines continued witnessing increased acceptance by merchants.Digital payments giant Paytm, one of India’s most valuable startups, plans to raise up to $2.2 billion in an initial public offering, it said in draft papers submitted to the country’s market regulator on Friday. Its revenue from operations increased 51.5 per cent to ₹2,334.5 crore in Q4FY23, from ₹1,540.9 crore in Q4FY22. In Q4FY23, Paytm's consolidated net loss narrowed sharply to ₹168.4 crore from ₹761.4 crore in Q4 of the previous year, aided by an increase in GMV, higher merchant subscription revenues, growth of loans disbursed, and full years’ UPI incentives reported during the quarter. The RSI is yet to enter the overbought zone which implies there is sufficient room for a sustained upside going forward," said Bissa. "Currently, the stock is trading comfortably above the August 2022 hurdle placed at ₹845 and once a weekly close is confirmed above this level, Paytm is likely to witness another push which can catapult it towards ₹1,000 level. Once the RSI went above 70 on the weekly timeframe, the stock witnessed a fresh push which resulted in a fresh swing breakout on the weekly charts resulting in a smooth ride from ₹750 to ₹850 levels," said Bissa. "The RSI was hovering around 60 levels after the breakout was confirmed which ensured the prices didn’t fall back below the breakout zone, however, the strength was still missing. ![]() The stock showed a trend reversal on a smaller time period which pushed the stock from ₹500 to ₹600 levels.īissa pointed out that the stock recently gave a breakout from descending channel pattern on the weekly charts with incremental volumes suggesting fresh buying interest from the market participants. Gaurav Bissa, VP of InCred Equities observed after witnessing strong correction since getting listed on Indian bourses, Paytm was seen trying to stabilise around ₹500 levels. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |