February 23, 2024

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Paytm founder to get 10% stake from Ant with out paying any money

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Mumbai: Paytm founder Vijay Shekhar Sharma will purchase a ten.3┬áper cent stake from China’s Ant Group Co., in an uncommon transaction that will not contain any money fee or change in financial curiosity.

Sharma, who can be chief government officer of Paytm-parent One97 Communications Ltd., will enhance his holding within the firm to 19.42 per cent, whereas Ant’s stake will drop to 13.5 per cent, in accordance with a regulatory submitting. However Sharma will not pay any money for the fairness and Ant will retain the identical financial stake by way of convertible securities, the submitting mentioned.

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