Vijay Shekhar Sharma News

Subscribe to enjoy similar stories. Bengaluru: Venture capital firm India Quotient is looking to raise $130 million for its fifth fund, with nearly 80% of the commitments expected to come from global investors, its founding partner Anand Lunia told Mint in an interview. This marks a reversal from its previous funds, for which it raised most of the capital from domestic investors.

One 97 Communication also known as Paytm, founder Vijay Shekhar Sharma expects the focus to be on digitisation and start-ups getting support from the upcoming Union Budget 2024, the founder told ANI during an event on Saturday, July 6th.“I want the government to support them (small businesses), give them some incentives or in a way bring some advantages for them, digitisation should get support in the budget, start-ups should get support," said Sharma when asked about his expectations.The fin-tech founder also highlighted his expectations from the Government of India to focus on enhancing the Open Network for Digital Commerce (ONDC) platform and amending the overall e-commerce policy in the country, as the initiative aims to become the platform for small traders in India.“My expectation from the Government of India is to promote ONDC further because ONDC is in a way becoming an e-commerce platform for the small traders of our country, so we should talk about the creation and amendment of the overall e-commerce policy and about the enhancement of platforms like ONDC which have been created by the Government of India," he said.Vijay Shekhar Sharma focused on the infrastructural developments done by the Bhartiya Janata Party (BJP) government since 2014, The last decade has led to increasing connectivity of roads and airline infrastructure, and the focus has shifted to the Tier 2 and Tier 3 cities for upcoming businesses and developments, he said.“I believe this is a very important year for our dream of building a $5 trillion developed India because now we are seeing the pendulum swing in one direction," said Sharma.The fin-tech startup founder when asked about the high attrition rate in Paytm said, “All is well and all is

Paytm warned of job cuts and said it would trim non-core assets after reporting its first sales decline on record, reflecting fallout from a regulatory probe that curtailed much of the Indian fintech pioneer’s business. Once a role model for India’s nascent startup economy, Paytm’s net losses swelled several-fold to 5.5 billion rupees ($66.1 million) for the three months through March. The company known as One 97 Communications Ltd. reported a 2.6% slide in revenue to 22.7 billion rupees — the first drop since its 2021 stock-market debut. Its shares slid as much as 2%. Also Read: Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY

₹2,080-2,150 per share in November 2021—a stark evidence of the company’s long-term underperformance. At close of trading on Friday, 16 May, the share price of Paytm’s parent company, One 97 Communications Ltd, was ₹343.90 apiece. The stock price decline is bad enough, but the more important question is: can Paytm survive? Although Paytm’s brand remains popular with customers and merchants, the company is at risk of being stuck in a negative cycle of network effects.

Google I/O, allows users to interact with video search by posing live questions verbally, a feature Sharma describes as the "killer next version of Google Search." Sharma expressed enthusiasm for the feature's potential, stating, "Multimodal Gemini Model’s power in video search where you ask a live question by talking, is killer next version of Google Search." He also remarked on the practical application of this technology saying, "Google has found [the] AI way of search in everyday life." Also Read | Google unveils ‘future of AI assistants' with Project Astra. Everything you need to know Despite his praise, Sharma noted, "This demo doesn’t do justice to the power of the new way to search!" He urged viewers to particularly note the segment where a user is shown directing a camera while asking a question, illustrating the interactive capabilities of the new search method.

Paytm to the new Payment System Provider (PSP) bank handles has been completed, said Paytm founder Vijay Shekhar Sharma. This comes after the fintech company received approval from National Payment Corporation of India (NPCI) to commence user migration last week. Launching the new sound box on Tuesday at a virtual press meet, Sharma said that Yes Bank, which is one of the PSP banks, can decide if it wants to conduct additional due diligence of these merchants that have been switched.

Paytm, a pioneer in the country’s shift to mobile payments whose investors have included Warren Buffett’s Berkshire Hathaway and China’s Alibaba Group, has been shaken following an order from India’s central bank that largely crippled its banking affiliate. From Saturday, the bank can no longer carry out most types of transactions. One97 Communications, Paytm’s parent, also owns 49% of Paytm Payments Bank and was relying on it to build new sources of income.

Paytm founder Vijay Shekhar Sharma voiced confidence that his digital payments pioneer will overcome regulatory setbacks in India this year and stage a comeback as a stronger company. “The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct,” Sharma said at a financial technology conference in Tokyo Tuesday, his first public appearance since Indian regulators ordered his banking affiliate to halt certain activities. “And it is important for you, yourself to be taking care of it versus just letting a teammate or a adviser suggest that what should it be.” Sharma is fighting to put his digital-payments company back on stable footing after regulators placed severe curbs on the banking affiliate, the backbone for much of its financial and payments services. Both Paytm and Paytm Payments Bank are part of the billionaire’s fintech empire, but the bank isn’t controlled by the publicly traded mobile wallet pioneer.

Paytm, announced on Monday that founder Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank. “The Company has been separately informed that Vijay Shekhar Sharma has also resigned from the Board of Paytm Payments Bank to enable this transition. PPBL has informed us that they will commence the process of appointing a new Chairman," the company said in an exchange filing.

MUMBAI : Paytm founder Vijay Shekhar Sharma has stepped down as non-executive chairman of Paytm Payments Bank as the lender overhauls its board in the face of regulatory strictures. Sharma stepped down to aid the payments bank in the transition, parent company One97 Communications Ltd said in a regulatory filing on Monday.

Paytm, announced on Monday that founder Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank. “The Company has been separately informed that Vijay Shekhar Sharma has also resigned from the Board of Paytm Payments Bank to enable this transition.

unicorns in India, or startups with valuation exceeding $1 billion, met with commerce and industry minister Piyush Goyal on Wednesday. The discussion focused on the growth trajectory of the Indian startup ecosystem, the role of domestic capital in nurturing and scaling startups and India's position in the international startup landscape.

Read more The shareholders of Reliance Industries (RIL) have approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani to the board as non-executive directors. The resolutions were passed through postal ballot. Read more Honasa Consumer, which operates Mamaearth, will launch its three-day initial public offering (IPO) on 31 October, according to its draft prospectus.

Mint in the week gone by. The union government has reportedly decided to slash the minimum export price for basmati rice from $1,200 a tonne to $950 a tonne, while Paytm founder and chief executive officer (CEO) Vijay Shekhar Sharma has launched a ₹30-crore ‘VSS Investments Fund’ to invest in startups. Food production for the year 2022-23 is estimated at 329.7 million tonnes, marking around a 4.5% increase from the previous year, data released by the ministry of agriculture showed.

Paytm founder and chief executive Vijay Shekhar Sharma has launched a ₹30-crore ‘VSS Investments Fund’ to invest in Indian artificial intelligence (AI) and electric vehicle (EV) startups. The total size of the Sebi-approved, Category II Alternate Investment Fund (AIF) is ₹20 crore with a green-shoe option of ₹10 crore, bringing the total corpus to ₹30 crore.

₹939.00 apiece on the BSE. Around 2.3 crore Paytm shares or 3.6% stake of the company changed hands in a bunch of deals, according to reports. Earlier, reports said that Antfin was set to sell another 3.6% shares, or 2.3 crore shares in the fintech giant via block deal on Friday.

DELHI, BENGALURU : The Securities and Exchange Board of India (Sebi) has intensified its scrutiny on promoter classification of companies looking to go public, with the markets regulator’s observations prompting at least six companies in the past three months to include individuals or entities as promoters, according to three people familiar with the developments and filings reviewed by Mint. Questions were recently raised by securities lawyers and proxy advisory firms on founders of money-losing startups continuing to retain control of the companies even though they classified themselves as public shareholders.

Antfin has transferred its 10.3% stake in One97 Communications to the fintech firm's founder and CEO Vijay Shekhar Sharma, according to a regulatory filing. The deal turns One97 Communications, which operates under Paytm brand name, into a majorly Indian-owned company from being majorly owned by Chinese entities. Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma.

MUMBAII, NEW DELHI : Ant Group transferred about 44% of its stake in One 97 Communications Ltd, which runs Paytm, to founder and chief executive Vijay Shekhar Sharma, a move seen as an effort to reduce the Chinese company’s ownership in the Indian fintech giant. Paytm said Resilient Asset Management BV, an overseas entity owned by Sharma, will acquire the ownership and voting rights of 10.3% of the stake in the company held by Antfin (Netherlands), a unit of Ant Group, formerly known as Ant Financial. Upon successfully completing this transaction, Sharma’s Paytm holding will increase to 19.42%, making him the company’s largest shareholder.

One 97 Communications Ltd, parent of Paytm, said founder and chief executive officer Vijay Shekhar Sharma had bought Antfin’s 10.3% stake in the fintech platform, public investors were elated. One Communications’ shares ended about 7% higher on Monday.

Paytm founder Vijay Shekhar Sharma will acquire 10.30% stake in Paytm from Antfin through an off-market transfer, the company said in an exchange filing. On closing of this transaction, Sharma’s shareholding in Paytm (direct and indirect) will increase to 19.42%, whereas Antfin’s shareholding will reduce to 13.5%.