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 ownership and voting rights of 10.3% of the stake in the company held by Antfin, a unit of Ant Group, formerly known as Ant Financial. And, if it was the case, then we could have asked to buy more stake and took Antfin’s shareholding below 10%, which would have taken Antfin’s ultimate beneficiary ownership status away," the Paytm official said. “Vijay has got enough timeline where he can arrange for the money and pay," a top Paytm official said on condition of anonymity.

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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 …

PwC India resigns as auditor of Paytm Payments Services Ltd
1 year, 5 months ago

PwC India resigns as auditor of Paytm Payments Services Ltd

Live Mint  

One97 Communications Limited on Monday informed the exchanges that its wholly-owned subsidiary Paytm Payments Services has appointed S.R. As per the company’s filing, The Board of Directors of PPSL have noted their resignation and placed on record its appreciation to M/s Price Waterhouse Chartered Accountants LLP for their contribution The Statutory Auditors have not raised any concern or issue. 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 Firms Ant Group, Tencent Hit with Hefty Fines for 'Illegal Acts' as Crackdown Draws Close
1 year, 6 months ago

Chinese Firms Ant Group, Tencent Hit with Hefty Fines for 'Illegal Acts' as Crackdown Draws Close

News 18  

Chinese regulators said Friday they had fined fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415 million penalty, adding that a long-running crackdown on tech firms was drawing to a close. “In view of the illegal and irregular acts by Ant Group and its affiliates in previous years… have been …

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 …

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 …

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 …

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.” …

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 …

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