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News Topical, Digital Desk : One 97 Communications Limited, owner of the Paytm brand, has transferred its offline merchant payments business to its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL). The transfer became effective at midnight on November 30, 2025. This move follows PPSL receiving a Payment Aggregator (PA) license from the Reserve Bank of India (RBI).
The company informed the exchange that this is a significant part of the internal restructuring process aimed at consolidating the payments business into a dedicated subsidiary to align with regulatory requirements and enhance operational efficiency.
14 million offline merchants: Approximately 14 million of Paytm's offline merchants use multiple payment subscription devices. Following RBI approval, PPSL will now be able to resume onboarding of new merchants, which was halted from November 2022. Along with the business transfer, two senior management officers (SMPs) from Paytm, Ripunjay Gaur (COO, Offline Payments) and Dipendra Singh Rathore (CTO, Payments), will also transfer to PPSL and relinquish their SMP roles at One 97 Communications. The transaction was carried out through a slump sale, where the business was acquired at its book value. The book value of this business as of March 31, 2025, was approximately ₹960 crore. The company received a lump sum cash payment in exchange for this. The agreement was entered into on November 28, 2025, and became effective after shareholder approval on November 23, 2025.
Stock Performance The company's shares closed at ₹1,320 on Friday, up 2.08%. Over the past year, the company's stock has gained 46.38%.
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