One 97 Communications Limited has informed the Exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) regarding acquisition through conversion of First Games Technology Private Limited' Loan.
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Paytm's parent company One 97 Communications has approved conversion of a ₹197 crore loan (including unpaid interest) into 19.67 crore equity shares of First Games Technology Private Limited (FGTPL) at par value of ₹10 each. FGTPL is a step-down subsidiary that discontinued its online real money gaming business from August 25, 2025 due to the new Online Gaming Act, 2025. The company's stake in FGTPL will increase from 55% to 82.6% on a fully diluted basis. Since the company had already fully impaired this investment, the conversion has no financial impact. Additionally, the company approved a Default Loss Guarantee of up to ₹90 crore for loans disbursed by lending partner Piramal Finance Limited, aligned with its loan distribution business model.
The loan conversion increases Paytm's ownership in the loss-making gaming subsidiary to 82.6%, but since the investment was already impaired, this has no P&L impact. The ₹90 crore guarantee represents potential financial exposure tied to the company's loan distribution model.