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One 97 Communications Limited, the parent company of Paytm, approved a series of strategic measures at its board meeting on August 25. The board cleared investments of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services through rights issues.
Both are wholly owned subsidiaries and the infusion will not change the shareholding, the company informed through a stock exchange filing.
The company also approved the 100% acquisition of Foster Payment Networks for up to Rs 61 crore to make it a fully owned subsidiary. The Noida-based company…
