Paytm Share Price: Paytm has done a deal with the government, will there be any movement in the shares?

The government has signed an agreement with Paytm (One97 Communications Ltd), under which the company will provide mentorship, infrastructure support, market access, and funding opportunities to startups. This information was given in an official statement issued by the Ministry of Commerce and Industry on Wednesday.

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Paytm. Its purpose is to promote innovation and accelerate the growth of manufacturing and fintech startups in the country. This MoU was signed by DPIIT Director Sumit Kumar Jarangal and Paytm Founder and CEO Vijay Shekhar Sharma.

What did Paytm and the government say about the partnership?

The ministry said, "Under this partnership, Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to startups. So that they can grow their business rapidly and innovate." This initiative will help in providing the necessary resources to entrepreneurs. So that they can develop cutting-edge payment and financial technology solutions. They will also be able to take advantage of Paytm's large merchant network.

DPIIT Joint Secretary Sanjeev said, "By leveraging Paytm's fintech expertise and infrastructure, we are trying to help entrepreneurs overcome challenges and grow their ventures." At the same time, Paytm Founder and CEO Vijay Shekhar Sharma said, "Paytm is committed to empowering entrepreneurs by providing mentorship, financial assistance and access to cutting-edge technology."

What will happen in the Paytm for Startups initiative?

The company will launch dedicated programs to support fintech hardware manufacturers. These initiatives will include mentorship programs, funding opportunities with investors, regulatory guidance, industry-focused workshops and impact assessments. DPIIT has previously signed similar agreements with many companies like Apna (professional networking platform), Rukam Capital, Avaana Capital, Bhaane Group, Flipkart, and ITC.

What is the condition of Paytm shares?

Paytm shares closed at Rs 733.90 on Tuesday, down 2.81 percent. It has gained 38.37 per cent in the last 6 months. At the same time, it has given a return of more than 71 per cent in the last one year. However, Paytm is still much below its IPO price. If seen since listing, Paytm shares have given a negative return of 52.98 per cent so far. Paytm's market cap is Rs 46.80 thousand crore.

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