Paytms grim first anniversary underscores an erosion of confidence in its ability to become profitable after debuting at a time when Indias IPO market was enamored with tech startups. Its one among a slew of startups that listed with valuations seen by many as exaggerated.

Reliance Industries Ltd.s Jio Financial Services Ltd. “can pose a significant growth and market-share risk” for players such as Paytm and Bajaj Finance Ltd., Macquarie analysts led by Suresh Ganapathy wrote in a note on Monday.

Indian IPOs raised a record $18 billion in 2021 on government efforts to foster startups combined with easy-money policy and a surge in retail trading during the pandemic. But investors have since dumped high-profile tech shares, even as the broader Indian stock market has outperformed global peers and scaled new peaks.

RCom held 100% stake in GIDC through another subsidiary Reliance Webstore Limited (RWSL). In August 2016, RCom and Reliance Infratel Limited had taken loans Rs 565 crore and Rs 635 crore respectively from the State Bank of India. In September that year, the telco pledged 100% of its shareholding in GIDC to the bank against the loan.

Lock-ups end in November for four consumer-focused tech stocks, which have all slumped in the past month. Included are One 97 Communications Ltd., operator of payments service Paytm, and FSN E-Commerce Ventures Ltd., owner of beauty e-retailer Nykaa.

In the Nifty 50 index, 17 stocks ended in the green, while 33 stocks closed in the red in today's trade.

In the Nifty pack, 17 stocks closed in the green, while 33 stocks ended in the red.

In the Nifty50 index, 17 stocks closed in the green, while 33 stocks ended in the red.

The Nifty Realty index was trading 0.41 per cent up at 427.2.

The Nifty Pharma index was trading 0.11 per cent down at 12994.45.

The Nifty Bank index was trading 0.57 per cent up at 40549.25.

​Cement is a beautiful business – one with regional flavours, many moving parts, clean balance sheets and where many companies make decent money

In the Nifty50 index, 32 stocks were trading in the green, while 16 stocks were in the red.

In the Nifty 50 index, 29 stocks were trading in the green, while 21 stocks were trading in the red.

The Nifty Auto index was trading 0.7 per cent down at 12604.75.

The Nifty Realty index was trading 0.84 per cent down at 430.6.

The Nifty Bank index was trading 0.41 per cent down at 38933.5.

The Nifty Auto index was trading 0.7 per cent down at 12604.75.

The Nifty Bank index was trading 0.41 per cent down at 38933.5.

The Nifty Realty index was trading 0.84 per cent down at 430.6.

The Nifty Realty index closed 0.98 per cent down at 434.25.

The Nifty Bank index closed 0.22 per cent down at 39093.1.

The Nifty Auto index closed 0.54 per cent down at 12693.6.

The Nifty Realty index was trading 0.8 per cent down at 435.05.

The Nifty Bank index was trading 0.94 per cent down at 38808.75.

The Nifty Auto index was trading 1.45 per cent down at 12576.5.

In the Nifty pack, 21 stocks closed in the green, while 29 stocks ended in the red.

In the Nifty50 index, 21 stocks closed in the green, while 29 stocks ended in the red.

In the Nifty 50 index, 21 stocks ended in the green, while 29 stocks closed in the red in today's trade.

The Nifty Auto index was trading 0.17 per cent down at 12763.15.

The Nifty IT index was trading 0.49 per cent down at 27793.1.

The Nifty Bank index was trading 0.77 per cent down at 38979.55.

In the Nifty 50 index, 48 stocks ended in the green, while 2 stocks closed in the red in today's trade.

In the Nifty pack, 48 stocks closed in the green, while 2 stocks ended in the red.

In the Nifty50 index, 48 stocks were trading in the green, while 2 stocks were in the red.

In a letter to Sebi end July, the minority shareholders have written seeking the regulator to prevent “mis-governance, protect the rights of shareholders, and ensure the compliance of listing obligations and other SEBI regulations.”

Vijay Shekhar Sharmas role as the chief executive officer is among the items to be voted on at the companys annual general meeting held virtually this afternoon. A proxy advisory firm last week recommended that shareholders replace the founder as CEO, citing concerns about his ability to reverse losses at the payments provider.

Banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to RIL following which the Mukesh Ambani-promoted company will transfer the agreed amount to an escrow account. The NOC essentially is a no dues certificate for RITL, a procedure followed before the implementation of the resolution plan.

Paytm, which competes with Google's payment app and Walmart Inc's PhonePe in India's digital payments market, said it is on track to achieve operational profitability by September 2023.

The winemaker is looking to go public at a time when IPOs have dried up in India, as in much of the world, amid concerns of a recession. Young retail traders who helped drive the local stock market over the past couple years have been burned in recent months by plunges in high-flying tech unicorns such as Zomato Ltd. and Paytm parent One 97 Communications Ltd.

​​Reliance Groups IoT (Internet of Things) business - Unlimit, which it set up in late 2016 in partnership with Cisco Jasper, shut shop last year. Its chief executive Juergen Hase left the company in January 2021 after his contract tenure expired. This is the latest impediment faced during the corporate insolvency resolution process that RCom is undergoing.

Ambanis first-born, Akash, 30, will succeed him as chairman at Indias No.1 wireless carrier Reliance Jio Infocomm Ltd. The patriarch, who resigned from the Infocomm board, will continue to helm Jio Platforms Ltd., which owns all digital assets including the telco. This is probably a stopgap arrangement until Jio Platforms, whose investors include Meta Platforms Inc. and Alphabet Inc., concludes its much-awaited initial public offering.

Jitender Kothari, an RP appointed by NCLT to look into the claims of State Bank of India against Ambani, approached the tribunal on Wednesday claiming that he had submitted his report on 31 May 2021 regarding his assessment of whether Ambani should undergo personal insolvency resolution process.

In March, the Reserve Bank of India ordered a comprehensive audit of the company's IT systems, citing "material" supervisory concerns, without elaborating further, and barring it from taking on new customers.

RBI ordered a comprehensive audit of the company's IT systems, citing "material" supervisory concerns, without elaborating further, and barring it from taking on new customers.

In a regulatory filing, Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely bullish about its potential.