Shares of One97 Communications Ltd, the parent company of Paytm, surged more than 6% on Friday amid positive regulatory expectations, while peer Mobikwik also witnessed strong buying interest.
Paytm shares rose as much as 6.3% to Rs 1,342.8, while Mobikwik climbed 10% to Rs 221.28 apiece during the session.
The rally comes a day after Paytm announced its entry into Indonesia through a strategic partnership with Flip (PT Fliptech Lentera Inspirasi Pertiwi) and its subsidiary PT Duta Teknologi Kreatif (DTK), marking another step in the company's international expansion.
In an exchange filing after market hours on Thursday, Paytm said it has entered into arrangements with DTK to provide device hardware and technology, while also making a minority investment in the Indonesian company. Flip, a financial technology company in Indonesia, will lead local market execution.
DTK holds a PJP1 licence, enabling it to provide merchant acquiring services in Indonesia.
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Paytm, which pioneered the mobile payments, QR code and Soundbox ecosystem in India, said the partnership aligns with its strategy of expanding its technology-led offerings into select international markets.
The move follows the company's commentary during its March 2026 quarter (Q4FY26) earnings, where management said it was evaluating select overseas markets as an additional long-term growth driver for its technology and products.
Alongside its international expansion, the company continues to strengthen its financial services business. Management has said it is expanding financial services distribution by adding more lending partners, including banks, launching new products such as Paytm Postpaid with a banking partner, and improving collections performance through AI-driven capabilities.
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