Zomato’s purchase of Paytm Insider, including ticketing platforms TicketNew and Insider, is valued at ₹2,048 crore.
TT&A and Luthra Advise on Zomato’s ₹2,048 Crore Purchase of Paytm Insider
One 97 Communications Limited (OCL), the parent company of Paytm, has finalized definitive agreements to sell Paytm Insider, its entertainment ticketing division encompassing movie, sports, and event ticketing, to Zomato Limited. The deal, valued at ₹2,048 crore, will be executed on a cash-free, debt-free basis.
Under the terms of the agreement, OCL will transfer Paytm Insider to Zomato through:
- The transfer of OCL’s entertainment ticketing business to its wholly owned subsidiaries, Orbgen Technologies Pvt Limited (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL).
- The sale of a 100% stake in OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively, to Zomato. The transaction will also include the transfer of approximately 280 existing employees from the entertainment ticketing business.
Legal Advisers for Zomato:
TT&A is advising Zomato on this transaction. The team is composed of Gautam Saha (Joint Managing Partner), Harshit Chandra (Partner), Shivranjani Ralawata (Partner), Pooja Menon (Managing Associate), Ambika Sahai (Managing Associate), Utsav Agarwal (Managing Associate), Tanya Maithani (Senior Associate), Divya Kumar (Associate), Prakhar Srivastava (Associate), Radhika Sarda (Associate), and Prerna Raturi (Associate).
Legal Advisers for OCL (Paytm):
Luthra and Luthra Law Offices India represented One 97 Communications Ltd (Paytm) in the sale of its entertainment ticketing business to Zomato Limited. The team was led by Partner Nishant Singh and included Managing Associates Nikhil Bhat and Saksham Madan, Senior Associate Manushi Shah, and Associates Maitri Meghani, Aashi Shah, Aditi Nagpal, Charith Reddy, Silpi Jain, Aryaa Padhye, Aryaman Sharma, Govind D Warrier, Rahul Lal, Somanshu Shukla, and Shivangi Paliwal.
Brainbees Solutions’ (Firstcry) $499 Million IPO, Seven Law Firms acted as legal counsel
Share your news, articles, deals, columns, or press releases with us! Click the link to submit and join our platform today.
