Paytm Money raised Rs 40 cr from One97 Communications
Paytm Money received Rs 40 cr infusion from Paytm parent company One97 Communications. One97 Communications picked up 4 cr equity shares worth Rs 10 each in Paytm Money on rights basis.
Paytm Money sells mutual funds directly to consumers via a low-cost regular plan that eliminates the expense of distributor commissions.
The company has partnered with all 40 AMCs (Asset Management Companies) in India and is a SEBI registered investment advisor.