Shares of One 97 Communications Ltd (Paytm) and Zomato Ltd surged up to 4% in Tuesday’s trade after both companies confirmed preliminary discussions regarding Paytm’s movie ticketing business.
Despite this news, both companies clarified that no binding decisions have been made that would require board approval and legal disclosure.
Paytm is in early talks with Zomato to sell its movie ticketing business, which is part of its Marketing Services. This move aligns with Paytm’s strategy to focus on payment and financial services alongside digital goods commerce to support merchant growth.
“We acknowledge that we are in discussions with Paytm for the aforementioned transaction. However, no binding decision has been taken at this stage that would warrant a Board approval and subsequent disclosure in accordance with applicable law,” Zomato said in a stock exchange filing.
As of 10:40 AM the shares were trading 0.22% higher at ₹426.00 while Zomato shares were trading 0.32% higher at ₹186.83 on NSE.
