Zomato to acquire Paytm's entertainment and ticketing Business
Aug 21, 2024, 21:30 IST
New Delhi: Zomato Limited has announced on August 21, 2024 that its Board of Directors has approved the acquisition of Paytm's entertainment ticketing business (Paytm Insider) from One 97 Communications Limited (OCL) through a series of strategic transactions.
The acquisition will involve the transfer of Paytm's movie ticketing business and sports and events ticketing business to Zomato's wholly-owned subsidiaries, Orbgen Technologies Private Limited (OTPL) and Wasteland Entertainment Private Limited (WEPL), respectively, via a slump sale.
The combined entertainment ticketing business of Paytm achieved Rs 297 crore in revenue and Rs 29 crore in Adjusted EBITDA in FY24. The total transaction value for this acquisition is Rs 2,048 crore.
More from section
Advertisement
Top Stories
According to a global study, the mental health of urban youth is facing a significant decline. This finding comes from the Mental State of the World Report, conducted by an international research organization. In the report's World Mental Health Index, Hyderabad ranked among the lowest among Indian metro cities, with a Mental Health Quotient (MHQ) score of 58.3. Delhi scored even lower, at 54.4, while the global average stands at 63.
Andhra Pradesh
Telangana
Politics
Entertainment
Crime
Video
