Billionaire Sunil Mittal has reportedly shown interest in acquiring a stake in Paytm, one of India’s leading digital payment companies. The founder of Bharti Airtel has expressed interest in merging Airtel Payments Bank with Paytm Payments Bank in a stock deal. The move comes as digital payments are becoming increasingly popular in India, with more people turning to online payment options during the COVID-19 pandemic.
This article explains how Sunil Mittal plans to buy a stake in Paytm to strengthen his position in the market for digital payments.
It is believed that Sunil Mittal is looking to acquire Paytm stocks from other shareholders in the market, which could help him gain a foothold in the digital payments space. The move would also provide a boost to Paytm, which has been looking to expand its user base and increase its market share in the highly competitive digital payments sector.
If the deal goes through, the merged entity would be a major player in the digital payments market in India. Paytm is already one of the largest digital payment platforms in the country, with over 333 million registered users. Airtel Payments Bank, on the other hand, has a customer base of over 60 million.
The move by Sunil Mittal highlights the growing interest in the digital payments sector in India, which is expected to continue to grow in the coming years. With the government promoting cashless transactions and the rise of e-commerce, the digital payments sector is poised for significant growth, making it an attractive space for investors and companies alike.
No responses yet