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The Paytm founder has boosted his thin shareholding in the company while providing Alibaba a smooth exit. But he might well be inviting more scrutiny.

The fintech’s financial services business has done reasonably well in Q4 FY26. But upping its lending game without the NBFC tag will be a tall task.
The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.
The company’s IPO plans come amid weak numbers, slow growth of new platforms, challenges in its core payments business and a rather dull stock market.