What does Paytm actually do?

One97 Communications has seen so many twists and turns that it can be easy to miss how the company actually makes its money in 2021.

It is the season of tech IPOs. After Zomato, two digital payments companies, Paytm and MobiKwik, are all set to go public. Three days after Gurugram-based MobiKwik filed its draft red herring prospectus with the markets regulator, its much larger Noida-based rival filed its own DRHP—for a Rs 16,600 crore stock offering, billed as India’s biggest IPO ever.

Last week, we at The Morning Context did a detailed breakdown of MobiKwik’s prospectus—which mainly revolved around their digital credit play. It only made sense for us to do a business-wise breakdown of Paytm, India’s most valuable fintech startup.

A heads-up: Last …

Author

Arti Singh

Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.

artisingh@mailtmc.com

Author

Jayshree P. Upadhyay

Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.

jayshree@mailtmc.com