One 97 Communications (Paytm) has finalized the transfer of its Offline Merchant Payments Business to Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary. The transfer, approved by shareholders on November 23, 2025, became effective at midnight on November 30, 2025. Certain Senior Management Personnel (SMPs) have also transitioned to PPSL as part of the agreement.
Offline Business Transfer Completed
One 97 Communications Limited (Paytm) has completed the transfer of its Offline Merchants Payment Business to its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL). The transfer follows shareholder approval received on November 23, 2025, and the Business Transfer Agreement (BTA) execution on November 28, 2025.
Effective Date & Personnel Changes
The business transfer officially took effect from midnight on November 30, 2025. In addition to the transfer of the business, Mr. Ripunjai Gaur (COO – Offline Payments) and Mr. Deependra Singh Rathore (CTO – Payments), previously designated as Senior Management Personnel (SMPs) at Paytm, have also been transferred to PPSL, effective the same date. Consequently, they no longer serve as SMPs of One 97 Communications Limited.
Financial Details
The transfer involves a lump sum cash consideration based on the book value of the assets and liabilities of the transferred business. As of March 31, 2025, the book value of the Transferred Undertaking is approximately INR 960 Crores.
Source: BSE
