Antfin plans to offload 3.6% stake in Paytm through block deal

25 Aug 2023 , 09:15 AM

According to reports, Antfin is planning to sell a 3.6% stake in Paytm via a block deal on Friday. 

Antfin would sell approximately 2.3 crore shares at Rs 880.10 per piece in the deal. The offer price represents a 2.6% savings from current levels. As of June 2023, Antfin held around 23.79% stake in the company.

At the end of the June quarter, the digital payments company was completely owned by public shareholders, with founder and CEO Vijay Shekhar Sharma holding around 9.12% stake in the company.

Sharma agreed earlier this month to acquire 10.3% of Antfin, a subsidiary of Chinese firm Alibaba, through an off-market transfer.

With the completion of this transaction, Sharma’s stake will rise to 19.42%, making him the company’s largest stakeholder, while Antfin’s will fall to 13.5%.

Paytm’s consolidated net loss shrank to Rs 357 crore in the first quarter. EBITDA before ESOP increased to Rs 84 crore, with margins of 4%, due to an improvement in contribution margin and operating leverage.

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