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
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.