One 97 Communications Limited, the parent company of Paytm, announced on Thursday that its Board of Directors has approved the sale of its entire 12.75% stake in Socomo Technologies Private Limited for a consideration of ₹3 crore. The decision was taken at the company’s board meeting held on March 27, 2025.
Socomo Technologies operates the auto-rickshaw aggregation platform under the brand name Jugnoo, and also provides hyperlocal food and grocery delivery services. The transaction is expected to be completed by March 31, 2025.
Paytm stated that the divestment aligns with its strategic objective of strengthening its core payments and financial services business. Upon completion, Socomo will cease to be an associate company of Paytm.
According to the disclosure, Socomo’s total income in FY24 stood at ₹16.2 crore and net worth at ₹14.4 crore, contributing just 0.15% of Paytm’s consolidated income and 0.11% of its net worth.
The stake has been sold to Click Labs Private Limited, a Mohali-based firm with CIN U74900CH2011PTC035785. Paytm clarified that the transaction is not a related party deal, and the company does not have any identified promoter group.
The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the information is also available on Paytm’s investor relations portal.
