Shares of One 97 Communications, the parent company of Paytm, jumped more than 2% to Rs 553.15 on the NSE on Thursday after Finance Ministry nod for ‘downstream investment’ into Paytm Payment Services.
In the exchange filing on August 28, the company shared, “PPSL has received approval from the Government of India, Ministry of Finance, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the Company into PPSL. With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners.”
As of 9:26 am, One 97 Communications shares were trading 2.61% higher at Rs 552.05 on the NSE.
