Paytm’s parent company, One 97 Communications, has announced an internal restructuring to simplify its corporate structure by bringing key subsidiaries under direct ownership, according to a company filing shared on October 15.

The fintech company has also transferred its offline merchant payments business to Paytm Payments Services (PPSL), a wholly owned subsidiary, in-line with the Reserve Bank of India’s (RBI) regulatory requirements, the statement said.

The board of One 97 Communications approved several intra-group transactions on October 15 to consolidate financial and technology entities under direct ownership. As part of the plan, One 97 will acquire around 51.22 percent equity in Paytm Financial Services from founder Vijay Shekhar Sharma and his entity VSS Investco for up to Rs

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