Shares of Limited, the parent company of Paytm, fell sharply in early Monday trade on the NSE after the company disclosed over the weekend that its associate entity, Paytm Payments Bank Limited (PPBL), is being wound up following cancellation of its banking licence by the Reserve Bank of India.
As of 10.01 AM, the stock was trading at ₹1,102.35, down ₹45 or 3.92 per cent from its previous close of ₹1,147.35. The stock opened weak at ₹1,084.95 and touched an intraday low of ₹1,051.10, though it has since recovered partially. Total traded volume stood at 88.35 lakh shares with a traded value of ₹948.99 crore, indicating heavy activity. Despite the fall, buy orders outnumbered sell orders, with 65.17 per cent of orders on the buy side.
Goldman Sachs, in a note published this morning, maintained its Buy rating on the stock with a revised 12-month price target of ₹1,400 — implying 22 per cent upside from Friday’s close of ₹1,147.10 — though it trimmed the target from an earlier ₹1,470. The brokerage noted that Paytm had already impaired its entire investment in PPBL in early 2024 and currently derives no revenues from its operations. It flagged near-term uncertainty around potential brand perception impact and implications for Paytm’s planned Prepaid Payment Instrument licence application, while pointing to the RBI’s recent authorisation of Paytm as a payment aggregator for both online and offline merchants as a positive signal.
One 97 Communications on Saturday disclosed stating that PPBL’s board and shareholders approved winding-up resolutions after the RBI cancelled PPBL’s banking licence effective April 24. The company assured investors that PPBL contributed nil revenue or net worth to the parent in the last financial year and that all Paytm services — including Paytm UPI, Soundbox, QR, Money, and Payment Gateway — continue uninterrupted.
Goldman also previewed Paytm’s fourth-quarter results, forecasting 14 per cent year-on-year revenue growth and EBITDA margin of 5.8 per cent, with GMV growth accelerating to 26 per cent year-on-year. The stock is down 15 per cent year-to-date and sits well below its 52-week high of ₹1,381.80 touched in December 2025. The market closes at 4 PM and the situation continues to develop through the session.