January 23, 2017 6:18 PM ET

Internet Software and Services

Company Overview of Accelyst Solutions Pvt. Ltd.

Company Overview

Accelyst Solutions Pvt. Ltd. owns and operates a Website that provides online recharge and bill payment services. The company offers online recharge for prepaid mobile, data cards, and DTH connections; and postpaid mobile bill payment services. It provides rewards by way of discount coupons from various brands in food, lifestyle, eCommerce, travel, and other sectors for every transaction made through the Website. The company was incorporated in 2008 and is based in Mumbai, India. As of April 8, 2015, Accelyst Solutions Pvt. Ltd. operates as a subsidiary of Jasper Infotech Private Limited.

Vaibhav Chambers

Unit No. 2A

2nd floor

Bandra Kurla Complex, Bandra East

Mumbai,  400 051

India

Founded in 2008

Phone:

91 22 4036 3031

Fax:

91 22 2829 0313

Key Executives for Accelyst Solutions Pvt. Ltd.

Chief Executive Officer
Co-Founder and Chairman
Chief Business Officer
Chief Financial Officer
Head of Human Resources for Freecharge
Compensation as of Fiscal Year 2016.

Accelyst Solutions Pvt. Ltd. Key Developments

FreeCharge Appoints Mayank Kapoor as Head of Human Resources

Mayank Kapoor has been appointed as Head of Human Resources of FreeCharge. Mayank who was previously leading the Learning and Development portfolio at Snapdeal has more than 16 years of experience in people development, behavioural and leadership training, talent management & transformation across Hospitality, IT, Telecommunication and e-Commerce industries. In the new role, Mayank will leverage on his previous experience to nurture and develop a strong talent pipeline commensurate with FreeCharge's journey of becoming India's leading digital payments service provider.

FreeCharge Denied Being In Merger Talks With PayPal

A spokesperson for Accelyst Solutions Pvt. Ltd. (Freecharge) denied the merger talks that PayPal Holdings, Inc. (NasdaqGS:PYPL) is set to buy 25% stake in Freecharge. "There is no basis to a speculative media story about FreeCharge and PayPal being in discussion about a stake sale. There is no such discussion/proposal and the story is completely incorrect," a FreeCharge spokesperson said in a statement on Monday.

Paypal Reportedly In Final Stages Of Closing A Deal To Take A Significant Minority In Freecharge

PayPal Holdings, Inc. (NasdaqGS:PYPL) is reportedly in final stages of closing a deal to take a significant minority stake in Accelyst Solutions Pvt. Ltd. (Freecharge) PayPal Holdings is in the final stages of closing a deal to take a significant minority stake in domestic digital payments platform Freecharge, two people aware of the development said on condition of anonymity. The deal could see the sale of a 25% stake for around $200 million, one of the two added. The second person said PayPal's offer will be discussed by the board of Jasper Infotech Private Limited. Ltd (Snapdeal) in the first week of January, 2017. "PayPal's initial offer was for a controlling 51% stake in Freecharge. But SoftBank Group Corp. (TSE:9984), which is the largest shareholder in Snapdeal, is not keen to divest a majority stake and may sell between 20-25% in Freecharge, although a final decision is pending," the person added. Talks between PayPal and Freecharge began in August, 2016, added the first person. PayPal is believed to have hired The Goldman Sachs Group, Inc. (NYSE:GS) as an adviser while Deutsche Bank AG (DB:DBK) is advising Jasper Infotech in the transaction. Jasper Infotech founder Kunal Bahl and Snapdeal's head of M&A Abhishek Kumar are leading the deal, according to the people cited above. The transaction is also subject to approval by the board of PayPal. PayPal and Deutsche Bank did not respond to emails seeking comment; a spokesperson for Goldman Sachs declined to comment. And a Freecharge spokesperson denied there was a deal in the works.

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