Noida Based Digital Payment Company Paytm Founder To Get Loan Of Rs. 740 Crore
- ByStartupStory | June 9, 2021
Paytm founder Vijay Shekhar Sharma to get Paytm’s Rs. 740 crore loan. This investment is slated for Sharma’s another insurance firm which will purchase an insurance company – Raheja QBE General Insurance. This deal with the insurance company was announced around last year, and thus it was necessary to seal it off, especially since Paytm hopes to enter into IPO this year. Paytm’s Rs. 740 crore loan to two companies is ofcourse a milestone in the pathway of closing the deal.
This loan would help Sharma to get the cash he needs for acquiring the insurance company. In fact, word is out that they are working to get an IRDA approval. Shareholders of the company got to know about Paytm’s Rs. 740 crore loan a couple of days back and they will hold a meeting at the end of the month to discuss and finalise the same.
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