Top Stories

AntFin sells 3.6 per cent stake in Paytm worth ₹2,037 crore

Aug 28, 2023

By: BlinkX Research Team

Through open market transactions, Chinese fintech giant Ant Group subsidiary sold a 3.6 percent share in Paytm for Rs 2,037 crore on Friday. The shares of Paytm's parent One97 Communications were sold by Antfin (Netherlands) Holding BV.

2,27,54,823 shares, or 3.58 percent of One97 Communications, were sold by Antfin in a total of 14 tranches, according to block deal information made available to the BSE.

Averaging Rs 895.2 per share, the shares were sold for a total transaction value of Rs 2,037 crore. Post the transactions, Antfin's shareholding has declined to 20.21 percent from 23.79 percent stake in the company at the end of the June quarter, as per shareholding data available with the exchange. Ant Group is part of Jack Ma's Alibaba Group.

Last week, Antfin gave One97 Communications' CEO and founder Vijay Shekhar Sharma ownership of a 10.3% interest in the fintech company. The deal turned One97 Communications, which operates under the Paytm brand name, into a majorly Indian-owned company from being majorly owned by Chinese entities.

Source: Media Reports