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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.
 

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