NSE: PAYTM · 15 October 2026 · Pre-market update
- One 97 Communications Limited (Paytm) is in focus following two regulatory updates: its subsidiary First Games Technology received a substantially reduced GST demand order of INR 703.66 crores, and the NPCI deferred the implementation of MDR on select UPI P2M transactions until after Diwali.
- First Games Technology Private Limited (FGTPL), a joint venture subsidiary of Paytm, received a demand order from the Additional Commissioner of CGST Noida reducing its proposed GST liability from INR 5,712 crores to INR 703.66 crores for the period from April 2018 to March 2023, along with equivalent penalties and applicable interest. Paytm stated that the order carries no incremental financial impact since FGTPL discontinued its real-money gaming operations and its investment carrying value is already nil.
- Trading volume was 0.76 times the 20-day average daily volume.
One 97 Communications Company News Before Market Open
One 97 Communications Limited (Paytm) is in focus following two regulatory updates: its subsidiary First Games Technology received a substantially reduced GST demand order of INR 703.66 crores, and the NPCI deferred the implementation of MDR on select UPI P2M transactions until after Diwali.
The reduction of the subsidiary's GST liability to INR 703.66 crores removes a massive potential overhang while avoiding incremental financial strain on Paytm. FGTPL's liquidation-basis financial setup and nil carrying value ensure that the tax demand does not negatively impact Paytm's consolidated financial statements. The deferral of UPI MDR charges until after Diwali provides near-term regulatory clarity for digital payment volumes and merchant sentiments during the festive season.
38.04 lakh shares traded on 14 October 2026. This compares with a 20-day average daily volume of 50.05 lakh shares (0.76 times). The five-day average daily volume was 77.44 lakh shares.
The reduction of the subsidiary's GST liability to INR 703.66 crores removes a massive potential overhang while avoiding incremental financial strain on Paytm. FGTPL's liquidation-basis financial setup and nil carrying value ensure that the tax demand does not negatively impact Paytm's consolidated financial statements. The deferral of UPI MDR charges until after Diwali provides near-term regulatory clarity for digital payment volumes and merchant sentiments during the festive season.
Latest Company Developments
First Games Technology Private Limited (FGTPL), a joint venture subsidiary of Paytm, received a demand order from the Additional Commissioner of CGST Noida reducing its proposed GST liability from INR 5,712 crores to INR 703.66 crores for the period from April 2018 to March 2023, along with equivalent penalties and applicable interest. Paytm stated that the order carries no incremental financial impact since FGTPL discontinued its real-money gaming operations and its investment carrying value is already nil.
Clarifies the final liability from the regulatory scrutiny on online gaming without adding incremental financial pressure to the parent company.
In response to the festive season, the National Payments Corporation of India (NPCI) announced that the levy of Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions will be implemented after Diwali on a separately notified date, superseding the earlier September 15 circular.
Delays potential merchant cost implications regarding UPI processing, keeping current transaction fee structures intact through the peak festive period.
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Proposed GST Demand on First Games Reduced; Assessing Solutions Under Relevant Provisions; No Incremental Impact on the Company
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Update on levy of MDR on select UPI P2M transactions
Ownership & Transaction Activity
Mutual Fund Holdings
Mutual funds held 21.17% on 30 September 2026. This compares with 17.94% on 30 June 2026, a change of +3.23 percentage points.
The filing reported 43 MF/UTI holders.
Historical Bulk / Block Deals
What to Watch Next
- Market reaction to the substantially lowered GST demand for the subsidiary versus the initial INR 5,712 crore show-cause notice.
- Management commentary or evaluation updates regarding FGTPL's next statutory steps against the demand order.
- Trading volume and price action relative to the prior close of 1712.40 following the festive season UPI MDR postponement.
Other Dated Coverage
- One 97 Communications Share Price Today: Why PAYTM Is Rising 0.23% | 14 October 2026 — 14 October 2026
- One 97 Communications Share Price Today: Why PAYTM Is Rising 2.16% | 13 October 2026 — 13 October 2026
- One 97 Communications Share Price Today: Why PAYTM Is Rising 2.24% | 7 October 2026 — 7 October 2026
More One 97 Communications news and dated analysis →
Frequently Asked Questions
What is the latest One 97 Communications company news?
First Games Technology Private Limited (FGTPL), a joint venture subsidiary of Paytm, received a demand order from the Additional Commissioner of CGST Noida reducing its proposed GST liability from INR 5,712 crores to INR 703.66 crores for the period from April 2018 to March 2023, along with equivalent penalties and applicable interest. Paytm stated that the order carries no incremental financial impact since FGTPL discontinued its real-money gaming operations and its investment carrying value is already nil.
How strong was One 97 Communications’s trading volume?
38.04 lakh shares traded, 0.76 times the 20-day average daily volume. The price and volume data are dated 14 October 2026.
Do the mutual-fund figures show buying today?
They show holdings on 30 September 2026. Quarterly holdings do not identify purchases made on the article date.
Research & analysis: WittyTrades Research Desk
Reviewed by: Mohanish Sanghavi — SEBI Registered Research Analyst
Disclaimer: Investments in securities markets are subject to market risks. Registration with SEBI and NISM certification do not guarantee performance or returns. This article is for information and education, not personalised investment advice or a recommendation to buy, sell or hold.