Paytm Entertainment raises Rs 31.68 cr from parent company

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Paytm Entertainment has now secured INR 31.68 crore in a fresh funding round from the parent entity that is One97 Communications.

A total of 3520000 equity shares were allotted at INR 90 each, according to the report revealed.

Digital payment unicorn Paytm revealed its movie ticketing platform in the month of March 2016 with a partnership with the multiplex chain PVR.

Paytm Entertainment last secured INR 61 crore from the parent company in the month of June 2018. The firm has also so far secured INR 93 crore from the One97 Communications.

Paytm entry into the entertainment booking segment has offered the BookMyShow with the tough competition into the market.

Source: Techstory

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