One 97 Communications has successfully completed the transfer of its Offline Merchant Payments Business to its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL). The transfer, executed on November 28, 2025, became effective from midnight of November 30, 2025. This strategic move aims to streamline operations and comply with regulatory guidelines. Key management personnel will also transition to PPSL.
Offline Business Transferred
One 97 Communications has completed the transfer of its Offline Merchants Payment Business to Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary. The Business Transfer Agreement (BTA) was executed on November 28, 2025, following shareholder approval on November 23, 2025. The transfer is effective from midnight on November 30, 2025.
Management Personnel Transition
As part of the transfer, Mr. Ripunjai Gaur, COO – Offline Payments, and Mr. Deependra Singh Rathore, CTO – Payments, will also be transferred to PPSL. They will transition effective November 30, 2025, and cease to be Senior Management Personnel (SMPs) of One 97 Communications.
Agreement Details
The transfer will be for a lump sum cash consideration based on the book value of the assets and liabilities of the Transferred Undertaking as of the effective date. For reference, the book value of the Transferred Undertaking as of March 31, 2025, is approximately INR 960 Crores.
PPSL is a wholly-owned subsidiary of One 97 Communications and the transfer is part of an internal restructuring intended to consolidate related business within a dedicated subsidiary.
Source: BSE