Paytm E-Commerce Changes Its Name To Pai Platforms

Paytm E-Commerce is going for a name change. The company will not operate with the name Paytm E-Commerce Private Limited from now onwards. The company will now be known as Pai Platforms Private Limited. Paytm applied for the name change three months ago. The Registrar of Companies approved the name change on 8 February 2024. The new name of the company will be applicable from 8 February 2024. We will share more details about the Paytm E-Commerce name change below.

Paytm E-Commerce recently went through a name change. They got approval for the new name on 8 February 2024 from the registrar of companies. Paytm E-Commerce Private Limited is now Pai Platforms Private Limited. Along with the name change, the company has been in controversies for several other matters.

The rumors said that Paytm has also recently acquired ONDC Network and Bitsila. Many were speculating on the further growth of the company after the acquisition. However, Paytm mentions the news to be misleading and incorrect. It means that the company has not acquired Bitsila. The news is all false.

The company is in controversies after the RBI decided to bar the payments bank from its operations after 29 February 2024. People are withdrawing their amounts from the bank. Apart from that, the investors are also taking their money back. The company’s shares fall by 38% in the past month. They are touching the bottom line. Even today, the company’s share fell by 5%.

The sudden fall is impacting the company’s EBITDA as well. The current market cap of the company is Rs. 26.64 Thousand Lakhs. The 52-week high is Rs. 998.30, and the 52-week low is Rs. 395. Paytm’s founder and team are going through a deep face of struggles after the RBI’s decision. It is currently moving at a 73% lower than the beginning price of the company.

Apart from that, the company’s name change can be a new beginning for them. It will give another chance for to company and users to connect. One 97 Communications witnessed a little rally for two days, but it eventually led to a downfall. Apart from that, a recent report also shared that Paytm followed all the regulatory measures and revisions RBI asked the bank to take. We hope you get enough details about the Pai Platform name change above. The new name will be visible from now onwards on all the bills and transactions by the company.