Paytm names SRB as its new statutory auditor in favour of PwC.

Paytm, a leader in the fintech industry, has chosen S.R. Batliboi & Associates LLP (SRB, also known as EY), as its new statutory auditors for a five-year term beginning with the 23rd annual general meeting (AGM) and ending with the 28th AGM.

PwC's term will end this year, and SRB will take its place.The appointment of S.R. Batliboi & Associates LLP as the company's statutory auditors for a period of five (five) consecutive years was considered and approved by the audit committee and the board of directors of the company, according to Paytm's regulatory filing.

SRB will replace current auditors Price Waterhouse Chartered Accountants LLP, whose tenure will end at the completion of the upcoming 23rd AGM, which will take place in the year 2023, it was further said.

The permission of Paytm's shareholders is now required for the appointment of SRB.The Institute of Chartered Accountants of India has registered the limited liability partnership firm of chartered accountants SRB.

The audit firm is a member of the network of audit firms managed by S.R. Batliboi & Affiliates. Its main business is giving clients audit and assurance services.

On Friday of last week, Paytm's stock rose 1.16% to settle at 637 per share on the BSE. The market value of the company is around 40,372 crore.

Stanley thinks One 97 Communications should gain from the reduced standardised interchange because the interchange paid to Paytm Payments Bank would also be lower.

Yet this would mean less money for Paytm Payments Bank.sales multiples of 3.5x base, 2.3x bear, and 3.6x bull to get F25e EV, which we discount to Dec-24 at a 13.9% WACC, according to Stanley's remark on valuation.

In order to arrive at PT. Relative valuation based on US payment firms, we next add net cash. Paytm stock has been given "equal weight" by Stanley, who has a $695 target price.Citi has meanwhile recommended buying Paytm with a target price of $1,061 per share.

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