Arundhati Ramanathan

Staff writer - Fintech • India Edition

Arundhati is Bengaluru-based. She is interested in how people use money in the digital age and how new economies will take shape based on that interaction. She has spent over 10 years reporting and writing on various subjects. Previous stints were at Mint, Outlook Business and Reuters.

152 Articles published

Top Comments by Arundhati Ramanathan

Paytm IPO tells, and tells a lot, but doesn't show

Hi Amrit, we manually moderate comments, so you can see we approve and welcome critical, blunt comments as much as any other. Readers of course do disagree with our take, and we respect that. Always. In this case, the article was compared to facts from another source that didn't add up, and I pointed them out. We are passionate about our work, so that translates into comments as well :) But pls keep the feedback/comments coming, we are all the richer for it.

Arundhati Ramanathan

Paytm IPO tells, and tells a lot, but doesn't show

Kardam, I mentioned RPT 8 times because it is *that* important. Please don't assume all readers have equal knowledge of a specialised topic like fintech. We have written extensively about Paytm's business earlier. So our focus this time was different. If you didn't find our take insightful, I'm sorry to hear that. But let me also tell you that the two points you raised in the other article makes incorrect comparisons on both counts. To conclude that UPI was 75% of Paytm's GMV is wrong. Paytm DRHP clearly says its GMV excludes any consumer-to-consumer payment service such as money transfers. But UPI numbers include P2P and P2M transfers. As for the bit on debit cards, Karur Vysya actually made Rs 6000 cr plus income in Fy21, and has SB deposits of over Rs 15,000 cr. It's bigger than PPBL, so naturally their transaction would be more. Moreover, PPBL's 64 mln includes savings and current accounts. Is it comparable to KVB? Pls ask them.

Arundhati Ramanathan

Paytm IPO tells, and tells a lot, but doesn't show

Hi Ajay, we had a comprehensive article in 2020 laying out all of Paytm's businesses and doing a detailed analysis of that, and the challenges we wrote of back then hold true still, so doing a business break up is not going to yield any fresh insights to our readers who already have our past stories to refer to. You can read it here: https://the-ken.com/story/paytm-grasps-at-financial-services-straws-to-stop-its-slide/ With the prospectus of what could be among the country's biggest IPOs, it is a chance to see the innards of the company and its structure and see how it is poised to achieve its goals, which is what we have done.

Arundhati Ramanathan

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