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 …
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 …
