Zomato Acquires Paytm’s Events And Movies Ticketing Subsidiaries

Zomato Acquires Paytm’s Events And Movies Ticketing Subsidiaries

SUMMARY

In an exchange filing, Zomato said that it has completed the acquisition of Paytm’s events and movies ticketing subsidiaries Wasteland Entertainment Private Limited and Orbgen Technologies Private Limited

Last week, Paytm, along with its two subsidiaries, entered into a definitive agreement to sell its entertainment ticketing business to Zomato for INR 2,048 Cr in an all-cash deal

With this, Paytm's 100% shareholding in WEPL and OTPL has been transferred to Zomato and these entities are no longer subsidiaries of the fintech firm

Ahead of its annual general meeting, foodtech major Zomato announced in an exchange filing that it has completed the acquisition of Paytm’s events and movies ticketing subsidiaries Wasteland Entertainment Private Limited and Orbgen Technologies Private Limited.

In a separate filing, Paytm also said that the transfer of the events and movies ticketing business to WEPL and OTPL, respectively, along with subscription by Zomato in the share capital of both subsidiaries, was completed on August 27 (Tuesday).

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