One 97 Communications Limited — JV/Acquisition, 16-04-2026: Acquisition

Paytm (One 97 Communications) has approved converting ₹197 crore of existing loans and unpaid interest in its step-down subsidiary, First Games Technology Private Limited (FGTPL), into equity shares. This strategic move boosts Paytm's direct and indirect stake in FGTPL from 55% to 82.6% on a fully diluted basis. FGTPL's online gaming business was previously discontinued due to regulatory changes, and Paytm had already fully impaired its investment. This conversion primarily serves as a balance sheet restructuring, formalizing ownership without any new financial impact on the company.