Paytm Board Approves ₹3 Billion Infusion in Paytm Money, Restructures Subsidiaries

One 97 Communications said on Monday its board has approved an investment of up to ₹3 billion in subsidiary Paytm Money and ₹1.55 billion in Paytm Services through rights issues.

The board also cleared the transfer of up to 100% equity in Foster Payment Networks from Paytm Financial Services and other shareholders, making it a wholly owned subsidiary for up to ₹610 million. It further noted a proposal to transfer equity in First Games Technology for up to ₹1.40 billion.

The company added that First Games, a joint venture of One 97 Communications, has discontinued its real-money gaming business but will continue to operate social games. It said the venture does not contribute to the company’s consolidated revenues.