Zomato reveals the plans to purchase Paytm's Movies & Events Business
According to the company’s filings with the stock exchange, the foodtech giant Zomato has confirmed that it is in talks with Paytm to acquire the latter’s movies and ticketing business.
Paytm in a different documenting has likewise affirmed the conversations. After reports stated that Zomato was looking to acquire Paytm’s movies and ticketing business for approximately 
1,600-1,750 crore (190-210 million), the two companies provided confirmation.
1,600-1,750 crore (190-210 million), the two companies provided confirmation.
Zomato further said that the previously mentioned conversation is being attempted with a purpose to additionally fortify its going-out business and is in accordance with its expressed rank of focusing in just on the organization’s four key organizations at present.
Paytm additionally affirmed that the discussions are getting looked at. The discussions take place at a time when Paytm is said to be laying off a lot of employees.
As a result of restrictions imposed by the Reserve Bank of India due to concerns regarding compliance with regulatory norms, the business also experienced its first revenue decline in the fourth quarter. Since consumer and merchant base metrics have stabilized or grown since April/May, Paytm expects to begin its recovery in Q2.
All things considered, assuming that the arrangement goes through, Zomato will actually want to additionally extend its contribution in occasion’s business, assuming any semblance of BookMyShow. The company led by Deepinder Goyal recently made the announcement that it would make an investment of 100 crore, or $12 million, in Zomato Entertainment, a subsidiary that is in charge of the company’s live events and ticketing operations.
100 crore, or $12 million, in Zomato Entertainment, a subsidiary that is in charge of the company’s live events and ticketing operations. 
