Paytm to sell its entertainment, ticketing biz for Rs 2,048 crore to Zomato

One 97 Communications Limited, which owns the Paytm brand, on Wednesday said it will sell its entertainment ticketing business to food delivery platform Zomato for Rs 2,048 crore.

Around 280 existing employees who are part of the entertainment and ticketing subsidiaries will subsequently be transferred to the Gurugram-based food aggregator.

“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,” OCL said in a statement.