Vibrant Gujarat Summit: Paytm has made a big announcement before the Vibrant Gujarat Global Summit 2024. Fintech company One97 Communications on Wednesday plans to invest Rs 100 crore in Gujarat International Finance Tech-City (GIFT City) to create a global financial ecosystem. The company gave this information on Wednesday.
Let us tell you that One97 Communications owns Paytm. According to the information given to the stock exchange BSE, Paytm will invest in Gujarat International Finance Tech-City (GIFT City) over a fixed period and will seek requisite approvals for the same.
What did Paytm CEO say?
“GIFT City is set to become a global financial hub that will ensure India’s presence on the global map of innovation,” Vijay Shekhar Sharma, Founder and CEO, One97 Communications, said in a statement. The strategic investment in GIFT City represents an important step towards building an AI-driven cross border remittance and payments technology landscape, presenting global opportunities…”
According to the statement, with GIFT City as an ideal ‘innovation hub’ for cross-border activity, Paytm will leverage its proven ability to innovate and create new technology for users across the world looking to invest in India. Paytm also plans to set up a development center in GIFT City to provide new solutions and technology base.
“Further, we intend to leverage this investment to set up a dedicated development centre,” Sharma said,
adding that the center will also generate employment.
Paytm share price
Today, i.e. on Wednesday, Paytm’s shares are trading around Rs 687 with a rise of 0.34 per cent. At present, a rise of more than 2 points is being seen.
