New Delhi: Meals supply firm Zomato has accomplished the acquisition of Paytm’s subsidiaries WEPL and OTPL for leisure ticketing enterprise. The corporate gave this info in a discover given to the exchanges.

Allow us to let you know that on August 21, Deepinder Goyal-led Zomato had entered right into a ultimate settlement to accumulate Paytm’s leisure arm.

In its submitting to the inventory trade on August 21, Noida-based Paytm additionally confirmed this growth.

The deal, value Rs 2,048 crore on a cash-free, loan-free foundation, is a testomony to the worth created by Paytm by way of its leisure ticketing enterprise, which gives alternative and comfort to thousands and thousands of Indians with its providers and scale.

As a part of this settlement, OCL will switch its leisure ticketing enterprise to Zomato by transferring its 100 per cent subsidiaries, Orbgen Applied sciences Personal Restricted (OTPL) and Westland Leisure Personal Restricted (WEPL) and promoting 100 per cent stake in its subsidiaries OTPL and WEPL, which function the Ticketnew and Insider platforms, to Zomato.

In response to info offered by Fintech, about 280 present staff from the leisure ticketing enterprise might be a part of Zomato. Paytm had stated that the corporate needs to give attention to the fee and monetary providers supply phase.