Brokerages keep Urban Company on radar as UPI MDR debate gains momentum
Brokerage calls on Urban Company sit alongside fresh estimates for a potential UPI merchant-discount-rate framework, which could create a ₹16,000-17,000 crore annual revenue pool for banks and payment platforms. Paytm could see about ₹1,400 crore in incremental FY28 EBITDA under one scenario.
What happened
Brokerages retained calls on Urban Company, Dixon, Solar Industries and Indus Towers. Reports also assess a proposed UPI MDR framework, forecasting significant
Key facts
- Urban Company target price: Rs 180
- Dixon Technologies target price: Rs 10,600
- Solar Industries target price: Rs 28,160
- Indus Towers target price: Rs 395
- Estimated UPI MDR ecosystem revenue pool: Rs 16,000-17,000 crore per year
- Potential UPI MDR industry revenue pool: Rs 20,600 crore
- Paytm FY28 incremental EBITDA potential: about Rs 1,400 crore
- Maximum UPI MDR revenue pool estimate: Rs 17,000 crore
Why this matters
A ₹16,000-17,000 crore potential annual UPI MDR revenue pool could spur partnership, consolidation and merchant-services opportunities across banks, fintechs and payment platforms.