India, March 28 -- Listed fintech major Paytm has sold its entire 12.75% stake in mobility aggregator Jugnoo's parent Socomo Technologies for INR 3 Cr.

In an exchange filing, Paytm said its board approved the sale of the stake in Socomo. "The transaction is expected to be completed in the month of March'25 and is in line with our strategic focus on strengthening core payments and financial services business," the filing said.

Meanwhile, Jugnoo, in a statement today, said it repurchased Paytm's 12.75% stake for INR 23.52 Cr in a strategic move to consolidate ownership and enhance operational control.

"This buyback allows us to operate independently and provides greater flexibility in our strategic and financial planning," its cofounder ...