Zomato in Discussion to Acquire Paytm Ticketing Business

paytm zomato

India’s food delivery giant Zomato is in advanced discussions to acquire Paytm’s movie ticketing and events business, as per Bloomberg report. The negotiations between One97 Communications Ltd., the parent company of Paytm, and the online food delivery giant Zomato are reportedly in advanced stages. Seems a majority chance of aquisition.

It is a great move taken by Zomato their plan to expand its ‘going out’ offerings can happen . The potential deal could value Paytm’s vertical at approximately Rs 1,500 crore, according to a report of Economic Times.

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If this acquisition happens then its 2nd biggest investment done by Zomato following its acquisition of quick commerce platform Blinkit (formerly Grofers) in 2021, which was an all-stock deal valued at Rs 4,447 crore, the report added.

Zomato’s interest in Paytm’s events and movie ticketing business is a strategic fit, complementing its broader aim to capture consumer demand across various categories, including food, grocery and entertainments.

According to the report regulatory measures have compelled Paytm to establish new partnerships with other lenders. But no conclusive decision has been reached yet.

Paytm does not separately disclose figures for its movie and events ticketing business, it recorded annual sales of 17.4 billion rupees ($208 million) in the fiscal year ending March 2024 for its broader marketing services segment, which includes this business along with credit card marketing and gift vouchers.

A successful sale would enable Paytm to concentrate on travel, deals, and cashback—sectors crucial for expanding its merchant base and boosting overall sales.

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