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Sensex Dips on Inflation Concerns; Paytm Wallet Revival, Coal India IPO in Focus

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Indian financial markets are abuzz with significant corporate developments even as equity markets remain closed for the weekend. Paytm's parent company, One 97 Communications, received crucial in-principle authorization from the RBI for its subsidiary to issue digital wallets, signaling a potential revival of its core payments business. Concurrently, Coal India announced the filing of a Red Herring Prospectus for the IPO of its subsidiary, Mahanadi Coalfields Limited, marking a major divestment move. These company-specific stories emerge after the Nifty 50 closed down 0.61% at 25,144.30 and the Sensex fell 0.39% to 81,592.45 on Friday, driven by persistent inflation worries and elevated crude oil prices.

Key highlights

• Paytm: RBI grants in-principle authorization to Paytm Payments Services Ltd (PPSL) for issuing prepaid payment instruments, including digital wallets.
• Coal India: Subsidiary Mahanadi Coalfields Limited files Red Herring Prospectus for an IPO, structured as an Offer For Sale of up to 661.8 million shares by CIL.
• SoftBank: Offloads a 1.65% stake in e-commerce platform Meesho for ₹1,885.17 crore in a block deal.
• Deepak Fertilisers: ITAT dismisses tax department appeals, confirming relief on disputed taxable income of ₹215 crore for AY 2013-14 to 2018-19.
• Indian Markets: Closed today for the weekend; Nifty 50 ended Friday at 25,144.30 (-0.61%) and Sensex at 81,592.45 (-0.39%).

Paytm Wallet Revival: RBI Grants In-Principle Nod to PPSL

One 97 Communications, the parent company of Paytm, received a significant boost today as its wholly-owned subsidiary, Paytm Payments Services Ltd (PPSL), secured in-principle authorization from the Reserve Bank of India (RBI) to operate as an issuer of Prepaid Payment Instruments (PPIs), which include digital wallets. This development, confirmed by the company and reported by financial news outlets, marks a crucial step towards the potential re-launch of Paytm's wallet services, a segment that faced significant operational challenges following regulatory actions against Paytm Payments Bank in 2024.

The authorization, granted under the Payment and Settlement Systems Act, 2007, allows PPSL to establish and operate a payment system for issuing and operating PPIs across India. This move is seen as a strategic pivot for Paytm, enabling it to rebuild its digital wallet business under a new entity and potentially regain market share in the competitive digital payments landscape. The in-principle approval is, however, conditional. PPSL must fulfill specific requirements outlined by the RBI before receiving a final Certificate of Authorisation. These conditions typically include undertaking comprehensive system audits, including cybersecurity assessments by CERT-In empanelled auditors, and ensuring full compliance with RBI's Master Directions on Cyber Resilience and Digital Payment Security Controls.

Why it matters

The potential return of Paytm's wallet services is a major positive for One 97 Communications. The digital wallet was historically a cornerstone of Paytm's ecosystem, facilitating millions of transactions daily. Its disruption had a notable impact on the company's user engagement and revenue streams. A successful re-launch under PPSL could help Paytm diversify its revenue base, enhance customer stickiness, and strengthen its position against rivals in the UPI and digital payments space. Investors will be closely watching PPSL's progress in meeting the RBI's conditions, as the final authorization could significantly influence the company's future growth trajectory and market valuation.

Coal India Subsidiary Mahanadi Coalfields Files for IPO

Coal India Limited (CIL), the state-owned coal mining giant, announced today that its wholly-owned subsidiary, Mahanadi Coalfields Limited (MCL), has filed its Red Herring Prospectus (RHP) with market regulators for a proposed Initial Public Offering (IPO). The IPO is structured as a pure Offer For Sale (OFS) by Coal India Limited, involving up to 661,836,300 equity shares. This indicates that MCL itself will not be issuing fresh equity, and the proceeds from the sale will go to the parent company, CIL, as the selling shareholder.

The filing of the RHP is a significant step in the divestment process, signaling the government's intent to unlock value from its public sector undertakings. Mahanadi Coalfields Limited is a major coal producer in India, operating extensive mining operations primarily in Odisha. Its listing is expected to provide investors with an opportunity to participate directly in India's energy sector growth, particularly in coal production, which remains a critical component of the nation's power generation mix. The IPO is subject to receipt of all applicable regulatory approvals, prevailing market conditions, and other relevant considerations.

What to watch next

The market will now keenly await further details regarding the IPO, including the price band, offer size, and the timeline for the subscription period. The success of MCL's IPO will be a key indicator of investor appetite for PSU divestments and the broader sentiment towards the energy sector. For Coal India, the OFS could provide significant capital, which could be utilized for expansion projects, debt reduction, or other strategic initiatives. The listing of MCL would also bring greater transparency and independent valuation to one of CIL's key operating entities.

More stocks and market news

SoftBank Offloads 1.65% Stake in Meesho for ₹1,885 Crore

Japanese investment conglomerate SoftBank Group has further reduced its exposure to the Indian e-commerce sector by selling a 1.65% stake in Meesho for ₹1,885.17 crore. The transaction, executed via a block deal, saw SoftBank's affiliate, SVF II Meerkat (DE) LLC, offload 7.64 crore shares in the Bengaluru-based company. This move is part of SoftBank's ongoing strategy to monetize its investments in Indian startups, following several other stake sales in companies like Lenskart and Ola Electric earlier in 2026. Domestic and foreign institutional investors reportedly participated in the block deal.

Deepak Fertilisers Gets Tax Relief from ITAT

Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) received a favorable outcome from the Income Tax Appellate Tribunal (ITAT), Mumbai. The ITAT dismissed appeals filed by the Income Tax Department for Assessment Years 2013-14 to 2018-19, thereby confirming the relief previously granted by the Commissioner of Income Tax (Appeals). The dispute involved a taxable income of ₹215 crore. This resolution is positive for DFPCL, as it removes a significant contingent liability and provides clarity on its past tax assessments.

Sammaan Capital Reports Q2 FY27 Net Profit of ₹312 Crore

Sammaan Capital Limited announced its unaudited consolidated financial results for the second quarter ended September 30, 2026. The company reported a consolidated net profit of ₹3.12 billion (₹312 crore), a marginal increase from ₹3.1 billion (₹310 crore) in the corresponding period last year. The board approved these results during its meeting today. The stable year-on-year performance indicates continuity in its core housing finance operations, with the company maintaining steady earnings amidst the current economic environment.

Market context

Indian equity markets are closed today, Saturday, November 14, 2026, for the weekend. On Friday, November 13, both benchmark indices ended in negative territory. The Nifty 50 declined by 0.61% to close at 25,144.30, while the BSE Sensex shed 0.39% to settle at 81,592.45. Broader market sentiment was influenced by India's October retail inflation, which rose to 6.09%, breaching the RBI's upper tolerance band. Global crude oil prices remained elevated, with Brent crude trading around $95.50 per barrel, adding to inflationary pressures and concerns over India's import bill. The Indian Rupee was observed around 94.412 against the US Dollar in Friday's trading.

Why these stories matter

The developments today highlight key themes for Indian investors. Paytm's regulatory clearance signifies a potential turnaround for a major fintech player, impacting the broader digital payments sector and investor confidence in companies navigating regulatory landscapes. The Coal India subsidiary IPO underscores the government's ongoing divestment agenda and offers a new investment avenue in the core infrastructure sector. SoftBank's continued stake sales reflect evolving global investor strategies towards Indian startups, while positive tax rulings for companies like Deepak Fertilisers provide clarity and reduce financial uncertainties. These events, even on a non-trading day, shape sentiment and provide crucial insights into corporate strategies, regulatory environments, and sector-specific opportunities ahead of the next trading week.

What to watch next

• Paytm: Progress on meeting RBI's conditions for final authorization of PPSL's PPI license.
• Mahanadi Coalfields IPO: Announcement of IPO price band, offer size, and subscription dates.
• Macro Data: Investors will monitor any new inflation or industrial output data releases next week.
• Global Cues: Movements in crude oil prices and global market sentiment will remain key drivers.

Sources

• Vajiram & Ravi: Paytm Wallet Services: RBI's In-Principle Approval and the Road to Revival
• IndianStartupNews: Paytm wallet could return: RBI grants Paytm Payments Services in-principle PPI authorisation
• Kalkine: Coal India (NSE:COALINDIA): Has Subsidiary MCL Filed Its RHP for an Upcoming IPO?
• Kotak Neo: SoftBank Offloads 1.65% Stake In Meesho For ₹1,885 Crore, Further Reducing India Portfolio Exposure
• BSE India: Deepak Fertilisers and Petrochemicals Corporation Limited - Outcome of Appeals

FAQ

1. What is the latest news on Paytm's wallet services?

Paytm Payments Services Ltd (PPSL), a subsidiary of One 97 Communications, has received in-principle authorization from the RBI to issue Prepaid Payment Instruments (PPIs), including digital wallets. This is a crucial step towards potentially reviving Paytm's wallet business.

2. What does the RBI's approval mean for Paytm?

The in-principle approval allows PPSL to set up and operate a payment system for issuing digital wallets. However, PPSL must fulfill specific RBI conditions, including system and cybersecurity audits, before receiving a final Certificate of Authorisation to commence full operations.

3. Is Coal India launching an IPO for its subsidiary?

Yes, Coal India Limited (CIL) has announced that its wholly-owned subsidiary, Mahanadi Coalfields Limited (MCL), has filed its Red Herring Prospectus (RHP) for an Initial Public Offering (IPO). This IPO is structured as an Offer For Sale (OFS) by CIL, not a fresh equity issuance by MCL.

4. Why did SoftBank sell its stake in Meesho?

SoftBank Group sold a 1.65% stake in Meesho for ₹1,885.17 crore as part of its ongoing strategy to reduce its exposure and monetize investments in Indian e-commerce and technology startups.

5. What was the performance of Indian markets on Friday, November 13, 2026?

On Friday, November 13, 2026, the Nifty 50 closed down 0.61% at 25,144.30, and the Sensex fell 0.39% to 81,592.45. Markets were influenced by rising inflation (October CPI at 6.09%) and elevated crude oil prices.

6. What is the latest on Deepak Fertilisers' tax dispute?

Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) received a favorable ruling from the ITAT, which dismissed tax department appeals for AY 2013-14 to 2018-19, confirming relief on a disputed taxable income of ₹215 crore.

Disclaimer: This article is for educational purposes only. It does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.