Entertainment ticketing will remain on the Paytm app for up to 12 months during the transition. 

Paytm-Zomato Deal Latest news: In a major development, Paytm has entered into agreements to sell its entertainment ticketing business, including movies, sports, and events, to Zomato for Rs 2,048 cr. 

This move allows Paytm to focus more on core payments & financial services. We built movie ticketing from the ground up, and acquired Insider & Ticket New for Rs 268 Cr (2017-18), demonstrating our commitment to building businesses and creating value. 

In the meantime, entertainment ticketing will remain on the Paytm app for up to 12 months during the transition. 

This deal, valued at Rs 2,048 crores on a cash-free, debt-free basis, stands as a testament to the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale.

As part of this agreement, OCL will transfer its entertainment ticketing business to Zomato by 1) Transfer of OCL's entertainment ticketing business to its 100% subsidiaries, Orbgen Technologies Pvt Limited (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL), and 2) Selling 100% stake in its subsidiaries OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively to Zomato. The transfer will also include ~280 existing employees from the entertainment ticketing business.

The transaction value is subject to cash and net working capital adjustments at closing. Transaction closure is subject to the satisfaction of agreed conditions precedent.