Jan 24, 2022 04:00 PM
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The Company was incorporated as One 97 Communications Private Limited on 22 December 2000. Subsequently, the name of the Company was changed to One 97 Communications Limited on 12 May 2010. One97 Communications Ltd, the operator of leading digital payments platform Paytm, is engaged in providing payment and financial services which primarily includes payment facilitator services,facilitation of consumer and merchant lending to consumers and merchants,wealth management,e-commerce and cloud services which primarily consists of aggregator for digital products,ticketing business,providing voice and messaging platforms to the telecom operators and enterprise customers and other value added services. The company offers a broad range of mobile content, applications and commerce services to consumers (i.e., mobile phone users). Their content and applications include music browsing, ring-tone downloads, caller ring-back tone downloads, content alerts, contests and chat and messaging applications that are delivered to consumers via voice, SMS and WAP. The company`s applications can be deployed on any telecom network and accessed from most mobile handsets. They utilize interactive voice response (IVR) system or voice, Short Message Services (SMS), Unstructured Supplementary Services Data (USSD) and Wireless Application Protocol (WAP) technology to deliver their products and services. During the year 2002-03, the company launched music messaging on mobiles. During the year 2003-04, they launched VAS on landline networks. Also, they launched voice based gaming. During the year 2004-05, the company launched interactive out-dialer services. During the next year, they launched subscription based content services. During the year 2006-07, the company launched enterprise services on the 3030 short code. During the year 2007-08, Oorja Mobile Services Pvt Ltd became the subsidiary of the company, which is engaged in the business of developing, designing, importing, exporting software products and services and developing and providing services in the field of e-commerce, web based or related technology and applications. During the year 2009-10, the company acquired shares in TenCube. Also, they expanded their international operations to Nigeria and Bangladesh. In November 16, 2009, the company set up a subsidiary company namely PayTM Mobile Solutions Pvt Ltd for providing business of m-commerce and e-commerce by enabling telecom operators and enterprise merchants to offer m-commerce and e-commerce services like mobile prepaid recharge, postpaid mobile bill payment, landline bill payment, movie ticketing, travel bookings, flower delivery, DVD rental, shopping, utility bill payment to subscribers. In the year 2010, the company launched their website www.paytmonline.com. They signed an MoU with SAIF for launch of One97 Mobility Fund, for investing in the mobile value added services sector. In May 11, 2010, the company was converted into public limited company and the name was changed to One97 Communications Ltd. In July 27, 2010, the company set up a subsidiary company, namely One97 Communications (Nigeria) Ltd for providing the value added services to mobile operators and other enterprise customers. The company intends to expand their geographic presence by leveraging their expertise and track record in offering products that address the needs of international networks and their subscribers as well as enterprises outside India. They intend to expand in South East Asia, Africa and a few pre-paid minutes dominated European markets. They plan to acquire companies to expand their presence internationally. As on 31 March 2021,the company has 32 subsidiaries and 6 joint venture companies and 3 associate companies under its roof. During the month of November 2021,the company came out with an Rs 18300-crore public issue which is the largest ever IPO in Indian Capital Market history.The IPO offer comprised a fresh issue of equity shares amounting to Rs 8300 crore and the rest of Rs 10000 crore through offer for sale mode.The company offered IPO shares at a price of Rs 2150 per share including a premium of Rs 2149 per share.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India Ltd on 18 November 2021.
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