Monitoring Agency Report for the quarter ended September 30, 2025
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Awaiting price reaction for this filing.
Paytm has filed the quarterly Monitoring Agency Report (by Axis Bank) tracking use of proceeds from its November 2021 IPO, which raised Rs 18,300 crore. Out of Rs 8,119 crore earmarked for specific objects, Rs 6,119 crore has been utilized so far. The full Rs 4,300 crore allocated to growing the Paytm ecosystem (marketing, merchant expansion, payments platform) and the Rs 1,819 crore for general corporate purposes have been fully used up. However, the entire Rs 2,000 crore set aside for new business initiatives, acquisitions, and strategic partnerships remains unutilized and is parked in bank deposits earning 2.93% return. There is no deviation from the stated objects, and during the quarter Rs 14 crore in interest earnings were transferred to general purpose accounts.
Neutral to slightly negative — the report confirms disciplined use of IPO funds with no deviations, but the fact that Rs 2,000 crore earmarked for acquisitions and new businesses remains idle for nearly four years may raise questions about growth deployment. Shareholders should watch for any announcements on how this unutilized corpus is planned to be used.