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Company had already made relevant disclosures on this matter in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024,” said Paytm.
Paytm has said that this decision by the RBI will impact their EBITDA annually by Rs 300-500 crore.
CEO Vijay Sharma wrote to his shareholders, "I believe we should be operating EBITDA breakeven in next 6 quarters."
Although the position will be exited, however, SoftBank will continue to hold stakes in both the companies and will continue to invest in them going forward.
The incident took place outside The Mother's International School on Aurobindo Marg on February 22.
Optimistic about the cryptocurrency area, he stated that the technology is essentially deeply-rooted in cryptography, and after a few years, it would be mainstream.
Ola had opened bookings for Ola Scooter from July 15 for a token sum of ₹499
Paytm's IPO is expected to be one of the largest in the Indian stock markets and the company is in the process of filing its Draft Red Herring Prospectus for the same
Paytm Founder Vijay Shekhar Sharma on Thursday shared a photo of India’s first QR code-enabled store on Twitter. It hailed the development as the “humble beginning” that sparked a digital revolution.