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Paytm Founder Vijay Shekhar Sharma Buys 10.30% Stake from Antfin, Becomes Top Shareholder

7 Aug 2023 , 01:02 PM

Paytm founder Vijay Shekhar Sharma is set to increase his stake in the company by purchasing a 10.30% stake from Antfin (Netherlands) Holding BV. Antfin will transfer 6.53 crore shares of Paytm to an entity called Resilient Asset Management B.V., which is wholly owned by Sharma.

As a result of this transaction, Sharma's holding in Paytm will rise to 19.42%, while Antfin's stake will decrease to 13.5%.

With this move, Antfin, an affiliate of China's Ant Group Co, will no longer be the largest shareholder in Paytm. The agreement was entered into on August 7, 2023, as per the BSE filing by Paytm's parent company, One97 Communications.

Vijay Shekhar Sharma expressed his pride in Paytm's role as a pioneer of made-in-India financial innovation and its contribution to revolutionizing mobile payments and enhancing financial inclusion in the country.

He also extended his gratitude to Ant for their unwavering support and partnership over the past several years. The deal marks a significant milestone in Paytm's ownership structure and showcases Vijay Shekhar Sharma's continued commitment to the company's growth and development.


For feedback and suggestions, write to us at editorial@iifl.com

Paytm Founder Vijay Shekhar Sharma Buys 10.30% Stake from Antfin, Becomes Top Shareholder

Related Tags

  • Antfin
  • Paytm
  • Vijay Shekhar Sharma
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