One 97 Communications Limited (Paytm) has issued a postal ballot notice seeking shareholder approval for the appointment of a new Independent Director and associated remuneration arrangements. The notice outlines two key resolutions requiring member approval through remote e-voting.

Director Appointment Proposal

The company proposes to appoint Ms. Manisha Raj Raisinghani (DIN: 06798956) as a Non-Executive Independent Director. The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, initially appointed her as an Additional Director.

Ms. Raisinghani brings extensive experience as the Founder and CEO of SiftHub, an AI-native platform for revenue teams. She previously co-founded LogiNext, a leading logistics automation and optimization SaaS platform used by global enterprises. Her educational background includes a Master's in Information Systems Management from Carnegie Mellon University.

Remuneration Framework

The second resolution seeks approval for Ms. Raisinghani's remuneration framework for three years. The proposed compensation structure follows the framework approved by members at the 24th Annual General Meeting.

The remuneration will be paid on a pro-rata basis based on actual committee memberships and meeting attendance, with a minimum 75% attendance requirement for attendance-linked fees.

Voting Process and Timeline

The company has implemented a fully electronic voting process in compliance with Ministry of Corporate Affairs circulars. Physical postal ballot forms will not be distributed to members.

The notice has been sent electronically to all members whose email addresses are registered with the company, registrar MUFG Intime India Private Limited, or depositories as of the cut-off date.

Regulatory Compliance

The appointment requires special resolution approval under Regulation 25(2A) of SEBI Listing Regulations. The company has engaged VAPN & Associates as scrutinizers, with Mr. Prabhakar Kumar (ICSI M. No. F5781) as the primary scrutinizer and Mr. Ashok Kumar (ICSI M. No. A55136) as the alternate.

Ms. Raisinghani has provided all required declarations, including confirmation of independence criteria under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of SEBI Listing Regulations. She has also registered with the Independent Directors' databank and completed the mandatory online proficiency assessment.

Financial Context

The proposed remuneration exceeds statutory limits under Section 197(1) of the Companies Act due to the company's current loss position but remains within Schedule V limits based on effective capital as of March 31, 2025. One 97 Communications achieved profitability milestones in Q1FY 2026 with EBITDA of ₹717.00 million and PAT of ₹1,226.00 million, continuing the trend in Q2FY 2026 with improved EBITDA of ₹1,422.00 million.

India's appetite for travel continued to deepen and diversify in 2025, driven by a surge in spiritual journeys, festival-linked trips, entertainment tourism and growing demand from tier-2 cities, according to Paytm's latest travel recap. One 97 Communications Limited, the company behind the Paytm brand, reported sustained growth across spiritual, cultural, leisure and impulse travel categories, underscoring rising aspirations and renewed willingness among Indians to travel more frequently.

Spiritual Tourism Drives Major Growth

Spiritual tourism emerged as one of the strongest growth engines during 2025. The Kumbh Mela proved to be a defining event, with bookings to Prayagraj increasing more than threefold during January and February. This marked a sharp acceleration from 2024, when pilgrimage destinations such as Ayodhya, Shirdi and Varanasi had already seen close to 50 percent year-on-year growth.

In 2025, searches for Ayodhya, Varanasi and Tirupati climbed 34 percent, further cementing faith-based travel as a mainstream trend.

Festival Calendars Shape Travel Patterns

Festival calendars continued to shape travel behaviour at scale throughout 2025. During Chhath Puja, flight bookings to Patna rose by 25 percent, reflecting one of the country's largest annual migration movements. This pattern mirrors previous years' spikes around major festivals such as Holi, highlighting the enduring role of cultural occasions in driving seasonal travel demand.

The data also revealed increasingly spontaneous travel habits, with bookings jumping 15 percent immediately after salary credits, pointing to a close link between disposable income cycles and travel decisions.

Entertainment and Leisure Tourism Momentum

Entertainment tourism gained fresh momentum in 2025, with concerts acting as key travel triggers. Cities such as Mumbai and Bengaluru saw higher inbound demand as live events prompted short-duration trips, extending a trend that began in 2024 when concert-led travel grew by over 40 percent, particularly among younger travellers.

Leisure destinations remained resilient throughout the year. Srinagar stood out as a major comeback story, registering record bookings during 2025, while Goa continued to attract higher traveller volumes than in 2024, maintaining its position as India's most popular holiday destination.

Tier-2 Cities Drive Regional Expansion

A notable shift was the expansion of travel beyond major metros. Tier-2 cities recorded meaningful growth in inbound traffic, signalling deeper digital adoption and growing travel aspirations across regional India.

Platform Enhancements and Future Focus

The company recently rolled out Paytm Checkin, an AI-powered travel app offering personalised recommendations and conversational booking across flights, trains, buses and metro services on a single platform. Key features include:

• Zero convenience fees
• Low-cost flight cancellations
• Fast refunds
• Subscription-based Travel Pass with travel insurance
• Real-time flight updates
• Ticket Assure for trains
• Paytm Assured for buses

A Paytm spokesperson commented: "Travel trends in 2025 reinforce patterns that have been steadily strengthening over recent years. From the continued rise of spiritual and festival-led travel to greater spontaneity, event-driven trips and growing demand from tier-2 cities, users continue to place their trust in Paytm Travel. We remain focused on building a seamless, reliable and scalable travel ecosystem that supports India's evolving mobility needs."