Paytm CEO Vijay Shekhar Sharma Becomes Sole Significant Beneficial Owner as Antfin's Stake Shrinks

4 Sep 2023 , 02:54 PM

Antfin’s shareholding in One97 Communications Limited (OCL), the owner of Paytm, has decreased to 9.90%. Vijay Shekhar Sharma, CEO of Paytm, is now the sole Significant Beneficial Owner (SBO) of the company.

Antfin previously held a 23.79% stake in OCL but reduced it through stake sales to Resilient Asset Management B.V. Resilient Asset Management B.V. now holds a 10.3% stake in OCL, increasing Sharma’s direct and indirect shareholding to 19.42%.

Paytm remains a professionally managed company with no identified promoter, as Indian law requires a shareholding above 25% for such identification. The Significant Beneficial Ownership (SBO) Rule, introduced by the Corporate Affairs Ministry in 2019, aims to prevent illegal activities like tax evasion, money laundering, and benami transactions.
 

For feedback and suggestions, write to us at [e-mail]