One 97 Communications (Paytm) has entered into definitive agreements for the sale of its entertainment ticketing business that includes movies, sports and events (live performances) ticketing to Zomato. This deal, valued at Rs 2,048 crore on a cash-free, debt-free basis, stands as a testament to the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale.

As part of this agreement, the company will transfer its entertainment ticketing business to Zomato by Transfer of OCLs entertainment ticketing business to its 100% subsidiaries, Orbgen Technologies (OTPL) and Wasteland Entertainment (WEPL), and Selling 100% stake in its subsidiaries OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively to Zomato. The transfer will also include around 280 existing employees from the entertainment ticketing business. 

Paytms move to sell its entertainment ticketing business underscores its core focus on payments and financial services distribution. In recent quarters, the company has also expanded its offerings in insurance, equity broking, and wealth distribution, with significant opportunity to cross-sell these services and grow its market presence as a leading financial services distribution player.

One97 Communications (Paytm) is India's leading digital ecosystem for consumers as well as merchants.