Alibaba-backed Paytm is in discussions with Insider.in to pick up stake in the Mumbai- based events platform for about Rs 193 crore. According to sources, Paytm could pump in as much as USD 30 million to pick up majority stake in Insider.in. They added that the deal could be announced in the next few weeks.
Mails sent to Paytm and Insider.in did not elicit any response.
Insider.in is a leading ticketing platform for events and properties, which includes the likes of Bacardi NH7 Weekender and TV series The Dewarists.
If the deal fructifies, the digital payments and commerce platform will be able to strengthen its presence in the online ticketing business.
The sources said Paytm has scaled up its operations in the movie ticketing business and now, the Noida-based firm is looking at a larger share in the events business as well.
With a stake in Insider.in, Paytm will compete more aggressively against the likes of BookMyShow, which offers both movie and events ticketing.