India, Oct. 15 -- Paytm's parent, One97 Communications, has approved an internal restructuring plan to bring several of its financial and technology subsidiaries under direct ownership.

In a filing with the exchanges, the company said the move is part of efforts to simplify its group structure, strengthen governance, and improve operational efficiency.

As part of the plan, Paytm will acquire about 51.22% equity shares of Paytm Financial Services Ltd (PFSL) from founder Vijay Shekhar Sharma and his entity VSS Investco Pvt Ltd for up to INR 50 Lakhs. After the transaction, PFSL will become a wholly owned subsidiary of One 97 Communications.

Following this, the entities in which PFSL holds stakes, Admirable Software, Mobiquest Mobile Tech...