Zomato incorporates subsidiary Zomato Payments

Food delivery platform Zomato on Wednesday said it has incorporated a wholly-owned subsidiary in the name of Zomato Payments Pvt Ltd.

The incorporation has been done to carry the business of providing payment aggregator services and payment gateway services under the Reserve Bank of India (RBI) rules and regulations, Zomato said in a regulatory filing.

"Zomato Payments Pvt Ltd (ZPPL) is incorporated with an initial subscription of 10,000 equity shares of Rs 10 each aggregating to Rs one lakh only," it added.

Shares of Zomato Ltd closed at Rs 138.30 per scrip on BSE, down 0.79 per cent from its previous close.

source https://www.freepressjournal.in/business/zomato-incorporates-subsidiary-zomato-payments