China’s Ant said to mull sale of Paytm stake amid tensions with India
4 years, 1 month ago

China’s Ant said to mull sale of Paytm stake amid tensions with India

The Hindu  

Chinese fintech giant Ant Group is considering selling its 30% stake in Indian digital payment processor Paytm amid tensions between the two Asian neighbours and a toughening competitive landscape, people with direct knowledge of the matter said. A Paytm spokesman said “there has been no discussion with any of our major shareholders ever, nor any plans, about selling their stake.” Ant's possible exit from Paytm would mark another reversal for the Chinese company hot on the heels of the dramatic suspension of its $37 billion stock listing last month, which would have been the world's largest. Ant first invested in Paytm in 2015 and owns its 30% stake in the firm via its parent company, One97 Communications, according to Ant's initial public offering prospectus, which described the Indian firm as a major associate. In addition to the tighter investment rules for Chinese companies in India, tougher competition is likely another factor behind Ant's calculations regarding Paytm, which is losing its dominance, two of the people said.

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History of this topic

Vijay Shekhar Sharma becoming largest Paytm shareholder removes overhang: BofA
1 year, 5 months ago

Vijay Shekhar Sharma becoming largest Paytm shareholder removes overhang: BofA

Live Mint  

Paytm founder Vijay Shekhar Sharma buying 10.30% stake in the company from Antfin resulted in a Chinese entity ceasing to be largest shareholder in the company, which analysts believe to be positive for Paytm’s fundamentals and also remove overhang on the stock. With this, Vijay Shekhar Sharma will increase his holding in Paytm to 19.42%, becoming the largest shareholder in …

Vijay Shekhar Sharma to become largest shareholder in Paytm. Here's how
1 year, 5 months ago

Vijay Shekhar Sharma to become largest shareholder in Paytm. Here's how

Hindustan Times  

Fintech firm One97 Communications founder and CEO Vijay Shekhar Sharma will acquire a 10.30 per cent stake in Paytm from Antfin Holding BV through an off-market transfer in a no-cash deal. As per the deal, Sharma will purchase 10.3 per cent shareholding in Paytm from Antfin through his 100 per cent owned overseas entity Resilient Asset Management BV which will …

Ant transfers 10.3% in Paytm to Sharma
1 year, 5 months ago

Ant transfers 10.3% in Paytm to Sharma

Live Mint  

MUMBAII, NEW DELHI : Ant Group transferred about 44% of its stake in One 97 Communications Ltd, which runs Paytm, to founder and chief executive Vijay Shekhar Sharma, a move seen as an effort to reduce the Chinese company’s ownership in the Indian fintech giant. Paytm said Resilient Asset Management BV, an overseas entity owned by Sharma, will acquire the …

Vijay Shekhar Sharma To Purchase 10.3 Per Cent Stake In Paytm From Antfin In No Cash Deal
1 year, 5 months ago

Vijay Shekhar Sharma To Purchase 10.3 Per Cent Stake In Paytm From Antfin In No Cash Deal

ABP News  

Vijay Shekhar Sharma, founder and CEO of fintech firm One97 Communications, will acquire 10.30 per cent stake in Paytm from Antfin Holding BV through an off-market transfer in no cash deal. According to the deal, Sharma will acquire 10.3 per cent shareholding in Paytm from Antfin through his 100 per cent owned overseas entity Resilient Asset Management BV. In consideration …

Chinese e-commerce giant Alibaba says it will not sell shares in Ant’s buyback program
1 year, 5 months ago

Chinese e-commerce giant Alibaba says it will not sell shares in Ant’s buyback program

Associated Press  

HONG KONG — Chinese e-commerce giant Alibaba says it does not plan to sell any shares in its one-third shareholding in financial technology company Ant Group because it wants to retain its stake in an “important strategic partner.” Alibaba Group Holdings said in a filing Sunday that it will not participate in Ant’s share buyback program. Ant, which operates one …

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end
1 year, 6 months ago

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end

Associated Press  

HONG KONG — Chinese regulators are fining Ant Group 7.123 billion yuan for violating regulations in its payments and financial services, an indicator that over two years of scrutiny and crackdown on the firm that led it to scrap its planned public listing may have come to an end. The fine comes over two years after regulators pulled the plug …

Silicon Valley Bank not a stakeholder in Paytm, Vijay Shekhar Sharma clarifies
1 year, 10 months ago

Silicon Valley Bank not a stakeholder in Paytm, Vijay Shekhar Sharma clarifies

Live Mint  

Vijay Shekhar Sharma, founder and Chief Executive Officer, Paytm on Saturday clarified that the Silicon Valley Bank, which was one of its first investors, fully exited with handsome returns on their total investment of only $1.7 million. Sharma's tweet comes hours after SVB, which did business as Silicon Valley Bank, collapsed on Friday in the largest bank failure since the …

Paytm block deal: SoftBank, Ant discuss to sell stake, says report
1 year, 10 months ago

Paytm block deal: SoftBank, Ant discuss to sell stake, says report

Live Mint  

Japan's SoftBank Group Corp and billionaire Jack Ma-backed Ant Group have discussed selling stake in digital financial services firm One97 Commuications, which operates under the Paytm brand, through a block deal, Reuters quoted a report on Monday. Shareholders and investment banks representing the Ant Group and Softbank had earlier approached telecommunications tycoon and Bharti Airtel founder-chairman Sunil Mittal with an …

Jack Ma-backed Ant Group to reduce its stake in Paytm: Report
1 year, 10 months ago

Jack Ma-backed Ant Group to reduce its stake in Paytm: Report

Hindustan Times  

Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. The deliberations follow Ant affiliate Alibaba Group Holding Ltd.’s sale of its stake in Paytm, as the e-commerce giant pared back investments in India amid growing …

China’s Ant Group plans to sell some of its stake in Paytm
1 year, 10 months ago

China’s Ant Group plans to sell some of its stake in Paytm

Live Mint  

Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. The deliberations follow Ant affiliate Alibaba Group Holding Ltd.’s sale of its stake in Paytm, as the e-commerce giant pared back investments in India amid growing …

The Continuing Saga of China’s Ant Group
1 year, 10 months ago

The Continuing Saga of China’s Ant Group

The Diplomat  

Chongqing Ant Consumer Finance, a subsidiary of Alibaba’s spinoff financial arm, Ant Group, recently received regulatory approval to raise $1.5 billion to expand itself into the consumer finance business. According to Reuters, after the CBIRC approved Cinda’s funding plan, China’s State Council questioned the investment in Ant Group without having it restructured as per state demands. First, the billionaire’s controversial …

Alibaba exits India after selling entire stake of 3.4% equity in Paytm: Report
1 year, 11 months ago

Alibaba exits India after selling entire stake of 3.4% equity in Paytm: Report

Live Mint  

Chinese multinational Alibaba has sold its entire stake of 3.4 per cent equity in Paytm in 10 February's block deal, reported news agency ANI. The Chinese multinational in January had sold around 3.1 per cent of 6.26 per cent equity in Paytm. Paytm's revenue from operations increased to ₹2,062 crore, growth of 42 per cent on a yearly basis. With …

Alibaba sells nearly half of its direct stake in Paytm at Rs 535.9 per share
2 years ago

Alibaba sells nearly half of its direct stake in Paytm at Rs 535.9 per share

India TV News  

Chinese conglomerate Alibaba sold a 3.1 per cent stake - nearly half of its direct shareholding - in digital financial services firm One97 Communications in an indication of exiting the Indian market, sources said on Wednesday. According to a regulatory filing, One97 Communications Ltd, which operates Paytm, disbursed 3.7 million loans worth Rs 3,665 crore in December, up 330 per …

Jack Ma, Ant Group founder, to give up control of fintech giant in revamp
2 years ago

Jack Ma, Ant Group founder, to give up control of fintech giant in revamp

The Hindu  

Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. The Wall Street Journal reported in July last year, citing unnamed sources, that Mr. Ma could cede control …

Paytm’s Poor Run On Dalal Street Continues, Shares Tank 13%
3 years, 1 month ago

Paytm’s Poor Run On Dalal Street Continues, Shares Tank 13%

ABP News  

New Delhi: Shares of Paytm, listed as One 97 Communications, plunged 13.03 per cent after the day’s trade on the BSE on Monday. The digital payments company made its worst markets debut on Thursday as its shares fell around 27 per cent after the country’s largest-ever initial public offering. The market cap of the Ant Group-backed company, which remained above …

Paytm shares make weak debut; tumble over 27% during day trade
3 years, 1 month ago

Paytm shares make weak debut; tumble over 27% during day trade

The Hindu  

Shares of One97 Communications Ltd, Paytm’s parent company, on November 18 made a weak market debut and tumbled over 27% during the day from the issue price of ₹2,150. Ant Group-backed Paytm’s ₹18,300 crore IPO was oversubscribed 1.89 times on the last day of India’s biggest share sale last week. “Paytm, formally called One97 Communications debuts today at exchanges which …

Paytm shares make tepid debut; list with over 9% discount
3 years, 1 month ago

Paytm shares make tepid debut; list with over 9% discount

The Hindu  

Shares of One97 Communications Ltd, Paytm's parent company, on Thursday made a tepid market debut, listing with a discount of over 9% from the issue price of ₹2,150. "Paytm, the biggest IPO in India so far debuted the secondary market on a weaker note as compared to our expectations of a flat listing," Santosh Meena, Head of Research, Swastika Investmart …

Paytm's Rs 18,300-crore IPO opens today; here's all you need to know
3 years, 2 months ago

Paytm's Rs 18,300-crore IPO opens today; here's all you need to know

Firstpost  

This is likely to be the biggest issue in India’s history, breaking a decade-long record by Coal India Ltd, which raised over Rs 15,200 crore in its IPO Paytm’s Initial Public Offering of Rs 18,300 crore opens for subscription today, 8 November. Paytm’s IPO includes Rs 10,000 crore worth of shares as an offer for sale by existing shareholders as …

Paytm Rs 18,300-crore IPO subscription to open on 8 November
3 years, 2 months ago

Paytm Rs 18,300-crore IPO subscription to open on 8 November

Firstpost  

The company has filed papers with markets regulator SEBI and is planning to get listed on 18 November New Delhi: The initial public offering of digital payments firm Paytm will open for subscription on 8 November in the price band of Rs 2,080 to Rs 2,150 apiece and close on 10 November, according to sources. The company has filed papers …

Paytm IPO: One97 Communications Approves Rs 12,000-crore Fund Raising Plan
3 years, 6 months ago

Paytm IPO: One97 Communications Approves Rs 12,000-crore Fund Raising Plan

News 18  

One97 Communications, the parent company of Paytm has decided to raise Rs 12,000 crore by issuing fresh equity in its extraordinary general meeting on July 12, according to reports. “Resolved that the shareholders of the Company hereby take on record that Mr. Vijay Shekhar Sharma shall henceforth not be identified as a ‘promoter’ of the Company for any purpose, regulatory, …

China's Ant to become financial holding firm under enforced revamp
3 years, 9 months ago

China's Ant to become financial holding firm under enforced revamp

The Hindu  

China's Ant Group, the fintech giant whose $37 billion IPO was derailed by risk-wary regulators days before it was due to list in November, will restructure as a financial holding company, the country's central bank said on Monday. The overhaul comes two days after e-commerce giant Alibaba Group Holding Ltd, of which Ant is an affiliate, was hit with a …

Chinese regulator orders Ant Group to conduct major overhaul
3 years, 9 months ago

Chinese regulator orders Ant Group to conduct major overhaul

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese regulators have ordered Ant …

How a surefire bet on Ant Group has trapped global investors
3 years, 11 months ago

How a surefire bet on Ant Group has trapped global investors

Live Mint  

Some of the world’s biggest investors were on the cusp of a multibillion-dollar windfall from their bets on Ant Group Co. Now they are stuck with shares that won’t pay off soon. The global investors agreed to terms that were highly favorable to Ant, and which limited their ability to cash out if the company didn’t end up going public, …

Chinese regulators probe Ant Group's equity investments
4 years ago

Chinese regulators probe Ant Group's equity investments

The Hindu  

Chinese regulators are reviewing equity investments held by Ant Group Co Ltd in dozens of companies, three people with knowledge of the matter said, intensifying a crackdown on billionaire Jack Ma's financial technology empire. Divestments would also significantly scale back Ant's influence over the country's fast-growing fintech industry,where it has sought synergies with its existing businesses via several investments in …

Ant’s IPO fiasco set to clip its wings and dent its value
4 years, 2 months ago

Ant’s IPO fiasco set to clip its wings and dent its value

Live Mint  

China's surprise suspension of Ant Group's record $37 billion listing is set to delay rather than destroy its chances of a stock market debut though the financial technology giant's valuation and growth prospects are likely to take a hit. Under draft rules published on Monday, online lenders in China would have to stump up more of their own capital for …

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong
4 years, 2 months ago

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong

The Hindu  

Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s largest-ever stock market debut The Shanghai stock exchange first announced that it had suspended Ant’s initial public offering on its STAR market, prompting Ant to also freeze the Hong …

China regulators summon Ant Group executives ahead of IPO
4 years, 2 months ago

China regulators summon Ant Group executives ahead of IPO

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese regulators summoned Ant Group …

Ant Group IPO gets the green light from regulators for its blockbuster listing
4 years, 2 months ago

Ant Group IPO gets the green light from regulators for its blockbuster listing

CNN  

Hong Kong CNN Business — Ant Group — the crown jewel of billionaire Jack Ma’s tech empire — is one step closer to its highly anticipated market debut. China’s securities regulator said Wednesday that Ant has received the green light for its Shanghai public offering, and has now cleared all regulatory hurdled for a dual-listing that is expected to rake …

Ant plans $17.5 billion Hong Kong IPO, no cornerstone investors
4 years, 3 months ago

Ant plans $17.5 billion Hong Kong IPO, no cornerstone investors

Live Mint  

Jack Ma’s Ant Group Co. is aiming to raise $17.5 billion in its Hong Kong share sale and won’t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter. The fintech giant has assessed investor interest, betting it can …

Jack Ma’s Ant seeks $200bn valuation in dual IPO
4 years, 5 months ago

Jack Ma’s Ant seeks $200bn valuation in dual IPO

Al Jazeera  

Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a much-anticipated market debut for China’s leader in internet finance. The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything …

Ant Financial to raise $1 bn for investment fund for India, Southeast Asia startups
5 years, 1 month ago

Ant Financial to raise $1 bn for investment fund for India, Southeast Asia startups

Live Mint  

Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said. The internet finance company is looking to back more startups in those regions that focus on payments and …

Paytm raises $1 bn from Japan’s SoftBank, China’s Ant Financial; plans to invest Rs 10,000 cr for expansion
5 years, 1 month ago

Paytm raises $1 bn from Japan’s SoftBank, China’s Ant Financial; plans to invest Rs 10,000 cr for expansion

Firstpost  

When its rivals like Google Pay and PhonePe are spending massively on cashbacks, Paytm said it would use Rs 10,000 crore to add as many small merchants and businesses as possible into its fold. In a fresh round of funding, One97 Communications-led Paytm reportedly raised $1 billion at a valuation of $16 billion from new and existing investors, including Japan’s …

Paytm valuation surges 25% to $15 billion in latest investment round; company aims to expand array of service offerings
5 years, 4 months ago

Paytm valuation surges 25% to $15 billion in latest investment round; company aims to expand array of service offerings

Firstpost  

On 16 August, Paytm had said it would invest Rs 750 crore to approximately double its monthly active user base on mobile to 250 million by March 2020. E-commerce payment system and digital wallet company Paytm’s valuation has more than doubled to $15 billion in the latest investment round from about $6 billion in March 2017, said a media report. …

Paytm to raise $1.5-2 billion from existing investors SoftBank Vision Fund and Alibaba, total valuation to touch $16-18 bn
5 years, 9 months ago

Paytm to raise $1.5-2 billion from existing investors SoftBank Vision Fund and Alibaba, total valuation to touch $16-18 bn

Firstpost  

Paytm’s e-commerce affiliate Paytm Mall is also in talks with online marketplace eBay to raise around $150 million E-commerce payment system and digital wallet company Paytm is reportedly raising $1.5-2 billion from existing investors SoftBank Vision Fund and Alibaba’s financial affiliate Ant Financial in the latest funding round, a media report said. Paytm’s e-commerce affiliate Paytm Mall is also in …

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