About Payu Payments Private Limited
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Payu Payments Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Mih India (Mauritius) Limited. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 24 May 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72400MH2006PTC293037. Its GSTIN is 27AAJCS9091D1Z0 (Maharashtra). The company holds 6 GST registrations, of which 5 are active.
The company has an authorised share capital of ₹5,000 Cr and a paid-up capital of ₹3,404.34 Cr. It was formerly known as Ibibo Web Private Limited and Sp Web Private Limited. It is led by directors including Ashutosh Sharma and Renu Sud Karnad.
Its last annual general meeting (AGM) was held on 27 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹5,596.51 Cr, a growth of 22% compared to the previous year. For the same year it recorded a net loss of ₹248.06 Cr (net margin -4.4%) and EBITDA of -₹203.23 Cr (EBITDA margin -3.6%). Revenue has grown at a compounded annual rate (CAGR) of 38% over three years and 36% over five years.
The company has about 1,214 employees on its provident fund (EPFO) records. Its group structure includes 5 subsidiaries.
The company is associated with 5 brands: Smotect, PayUnow, PayU, PayUbiz and PayU. As per MCA filings, the company has open charges of ₹25 Cr and satisfied charges of ₹76.03 Cr on record. Court records list 59 cases involving the company, including 21 filed by the company and 38 filed against it; 17 cases are pending. The company has 25 deals on record (11 rights issues, 7 funding rounds, 4 secondary share transfers), with disclosed funding of ₹8,298.19 Cr; the latest was in March 2025. The company has 4 MSME Form 1 returns on record between 2023 and 2024, listing 4 overdue payments to 2 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website payu.in.
Company details
Name history
Payu Payments has undergone 3 name changes throughout its history. The company was previously known as Ibibo Web Private Limited, Sp Web Private Limited, and Mih Web Private Limited. The current legal name is Payu Payments Private Limited.
| Company Name | Status |
|---|---|
| Payu Payments Private Limited | Current |
| Ibibo Web Private Limited | Previous |
| Sp Web Private Limited | Previous |
| Mih Web Private Limited | Previous |
CIN history
Payu Payments has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U72400MH2006PTC293037, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72400MH2006PTC293037 | Current |
| U72400DL2006PTC218612 | Previous |
| U72400HR2006PTC036829 | Previous |
Contact details
Payu Payments Private Limited's registered office is in Mumbai, Maharashtra. Its website is payu.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressWallace Towers First Floor, Crossing Of Sahar Road Vile Parle East, Mumbai, Maharashtra, India – 400057
- IndustryFinancial Services, Digital Payment Solutions
To see the full contact details of Payu Payments Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Payu Payments operates multiple associated brands including Smotect, PayUnow, and PayU. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides herbal products for tobacco cessation, organ repair, and stress management. | smotect.com | |
| Provides online payment solutions and merchant tools for business transactions. | payunow.com | |
| Online payment processing and credit solutions are provided for businesses. | payu.com | |
| Payment gateway services for cards and netbanking are facilitated. | payubiz.in | |
| Digital payment solutions are provided for businesses in India. | payu.in |
Business activity
The main business activity of Payu Payments is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Payu Payments Private Limited, buy the company report.
Financials of Payu Payments Private Limited
FY 2024 filings availablePayu Payments Private Limited reported revenue of ₹5,596.51 Cr (up 22% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 36% over five years, including 22% growth in the latest year. EBITDA rose 11% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹203.23 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹248.06 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -3.6% | ||||
| Net Profit Margin | -4.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Payu Payments Private Limited, buy the company report.
Board of directors and KMP of Payu Payments Private Limited
Payu Payments Private Limited currently reports 9 directors and 2 key managerial personnel. 35 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashutosh Sharma | Director | 13 May 2025 | 1 Years 5 Months | Current |
| Anirban Mukherjee | Ceo | 14 Apr 2023 | 3 Years 6 Months | Current |
| Renu Sud Karnad | Director | 01 Feb 2024 | 2 Years 8 Months | Current |
| Gunjan Shukla | Director | 13 Jun 2025 | 1 Years 4 Months | Current |
| Arvind Govind Agarwal Also directs: Mindgate Solutions Private Limited | Cfo | 19 Dec 2022 | 3 Years 10 Months | Current |
| Johannes Bune Also directs: Payu Finance India Private Limited | Director | 01 Feb 2024 | 2 Years 8 Months | Current |
Auditor
Payu Payments Private Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2024 | 117366W/W-100018 |
Shareholding
The shareholding of Payu Payments Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Payu Payments Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 May 2021 | 100461285 | Axis Bank Limited | ₹25 Cr | Open | |
| 08 Jul 2021 | 100462175 | Hdfc Bank Limited | ₹15 Cr | Satisfied | |
| 26 Apr 2021 | 100451488 | Jp Morgan Chase Bank, N.A. | ₹16 Cr | Satisfied | |
| 25 Aug 2020 | 100369244 | Others | ₹30 Cr | Satisfied | |
| 18 Feb 2019 | 100243975 | Others | ₹15 Cr | Satisfied |
To see the full charge records of Payu Payments Private Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Payu Payments Private Limited has 25 deals on record (11 rights issues, 7 funding rounds, 4 secondary share transfers), with disclosed funding of ₹8,298.19 Cr; the latest was in March 2025.
Deals on record (5 of 25)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2025 | Rights issue | ₹1,757.1 Cr | Investors: Prosus (Naspers) |
| Feb 2025 | Rights issue | ₹433 Cr | Investors: Prosus (Naspers) |
| Jun 2024 | Rights issue | ₹577.7 Cr | Investors: Prosus (Naspers) |
| Mar 2024 | Rights issue | ₹140.94 Cr | Investors: Prosus (Naspers) |
| Feb 2024 | Funding round | ₹1,124.99 Cr | Investors: Prosus (Naspers) |
To see the full deal history of Payu Payments Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Payu Payments Private Limited has 59 court cases on record: 21 filed by Payu Payments, 38 filed against it. 17 cases are pending and 42 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 31 | 15 | 9 |
| District courts | 28 | 23 | 8 |
Cases on record (5 of 59)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South East, Delhi | Commercial suit | Filed against the company by Maharishi Ayurveda Products Pvt. Ltd. | Pending |
| High Court of Delhi | Commercial suit | Filed against the company by Razorpay Software Limited | Pending |
| High Court of Delhi | Court case (O.M.P. (COMM)) | Filed against the company by M/S Prajna Insuretech Pvt. Ltd. | Pending |
| High Court of Gujarat | Court case (SCR.A) | Filed against the company by Cheq Digital Private Limited | Pending |
| High Court of Delhi | Court case (O.M.P. (COMM)) | Filed by the company against Prajna Insuretech Pvt Ltd | Pending |
To see the full case history of Payu Payments Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Payu Payments Private Limited has 4 MSME Form 1 returns on record between 2023 and 2024, listing 4 overdue payments to 2 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Argali Knowledge Services Private Limited |
To see the full MSME payment records of Payu Payments Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Payu Payments has 5 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Payu Finance India Private Limited | U65910MH1992PTC068664 | |
| Paysense Services India Private Limited | U72100MH2015PTC266824 | |
| Payu Digital Labs Private Limited | U72200KA2000PTC028279 | |
| Payu India Innovations Private Limited | U72900DL2022PTC397624 | |
| Lazypay Private Limited | U74110MH2018FTC317439 |
To see the full group structure of Payu Payments Private Limited, buy the company report.
Employees & EPFO
Payu Payments Private Limited has a workforce of 1,214 employees on its EPFO records as of Sep 16, 2025, across 1 active EPFO establishment.
GST
Payu Payments has 6 GST registrations: 5 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAJCS9091D1Z0 | Maharashtra | Active | 01 Jul 2017 |
| 06AAJCS9091D1Z4 | Haryana | Active | 01 Jul 2017 |
| 29AAJCS9091D1ZW | Karnataka | Active | 01 Jul 2017 |
| 09AAJCS9091D1ZY | Uttar Pradesh | Active | 17 Jan 2023 |
To see the full GST registrations and return filing status of Payu Payments Private Limited, buy the company report.
Recent activity
Payu Payments Private Limited has 43 board changes on record since 2007: 12 appointments and 31 cessations. The latest: Ashutosh Sharma ceased to be Additional Director on 24 Sep 2025.
47 earlier events are in the company report.
News
Frequently asked questions
Payu Payments is an active private limited company based in Mumbai, Maharashtra, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 24 May 2006 (20+ years old) and is registered under CIN U72400MH2006PTC293037.
Payu Payments has 11 current directors and KMP:
- Ashutosh Sharma - Director
- Renu Sud Karnad - Director
- Gunjan Shukla - Director
- Johannes Bune - Director
- Laurent Dominique Le Moal - Director
- Jairaj Manohar Purandare - Director
- Gopika Pant - Director
- Subhash Sheoratan Mundra - Director
- Manoj Kumar Agarwal - Director
- Anirban Mukherjee - Ceo
- Arvind Govind Agarwal - Cfo
The latest financial statements of Payu Payments on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 27 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Payu Payments is 27AAJCS9091D1Z0, registered in Maharashtra. The company has 6 GST registrations in all, of which 5 are active and 1 is cancelled or inactive. Other active GSTINs include 06AAJCS9091D1Z4 (Haryana), 29AAJCS9091D1ZW (Karnataka), 09AAJCS9091D1ZY (Uttar Pradesh).
The CIN (Corporate Identification Number) of Payu Payments is U72400MH2006PTC293037. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Payu Payments has 59 court cases on record: 21 filed by the company and 38 filed against it. 17 are pending. Most are in the high courts.
Payu Payments was incorporated on 24 May 2006, making it 20+ years old. It is registered with the Registrar of Companies, Mumbai.
Payu Payments has 25 deals on record (11 rights issues, 7 funding rounds, 4 secondary share transfers), with disclosed funding of ₹8,298.19 Cr; the latest was in March 2025.
Ashutosh Sharma ceased to be Additional Director on 24 Sep 2025. Gunjan Shukla ceased to be Additional Director on 24 Sep 2025. Manoj Kumar Agarwal ceased to be Additional Director on 24 Sep 2025. Payu Payments has 43 board changes on record in total.
Payu Payments has 4 MSME Form 1 returns on record between 2023 and 2024, listing 4 overdue payments to 2 micro and small suppliers. The latest return was filed on 09 May 2024.
Payu Payments can be reached through the website payu.in. Its registered office is in Mumbai, Maharashtra, India.