Antfin to fully exit Paytm in Rs.3,800 cr block deal
mumbai, Aug. 5 -- China's Alibaba group is saying final goodbye to India's Paytm, 10 years after the conglomerate bet on what was then India's premier payment tech business.
A unit of Alibaba will sell its entire stake in Paytm owner One97 Communications Ltd in a block deal for Rs.3,803 crore, showed a term sheet, which described the sale as a "clean-up" trade.
Antfin (Netherlands) Holding B.V., one of Paytm's largest shareholders, holds 37.7 million shares or 5.84% in Paytm. The sale floor price has been set at Rs.1,020 a share, a 5.4% discount to Paytm's Monday closing price of Rs.1,078.20 on the National Stock Exchange.
Moneycontrol was the first to report the development.
Antfin has hired Citigroup and Goldman Sachs for the sale. The or...
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