Paytm shares have surged over 53% in 2024 – Know more

Shares of Paytm have surged more than 53% in 2024, reflecting the company’s significant progress and investor confidence. The stock’s strong performance continues to capture attention, with the recent surge being driven by a combination of factors, including strategic moves and positive market sentiment.

Recent News: Paytm’s subsidiary, One97 Communications Singapore Private Limited, has agreed to sell its Stock Acquisition Rights (SARs) in PayPay Corporation, Japan, to SoftBank Vision Fund 2 for a net value of JPY 41.9 billion, which is approximately INR 2,364 crore. The transaction, expected to close in December 2024, will enhance the consolidated cash reserves of Paytm’s parent company, One97 Communications Limited (OCL), and will be used to fund future business initiatives.

Paytm Group has confirmed it will continue to support PayPay’s technology and product innovations. The company is also committed to assisting PayPay with AI-powered feature development to accelerate its presence in Japan’s mobile payment sector.

The SARs, acquired by Paytm Singapore in September 2020, are valued at JPY 41.9 billion after accounting for the exercise cost of SARs. The sale is contingent upon satisfactory completion of corporate approvals, execution of transaction documents, and customary closing conditions.

Stock Performance:

• 1 Day: +2.13%
• 1 Month: +27.61%
• 6 Months: +179.73%
• Year to Date: +53.26%
• 1 Year: +33.94%
• 5 Years: -49.94%
• All Time: -49.94%

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.