Corporate News     07-Aug-23
Paytm Founder and CEO Vijay Shekhar Sharma hikes stake
Acquires 10.30% stake in Paytm from Antfin
One 97 Communication (Paytm) announced that Vijay Shekhar Sharma, Founder and CEO of the company and Antfin (Netherlands) Holding B.V. (Antfin) have executed an agreement whereby an overseas entity 100% owned by Sharma will acquire 10.30% stake in Paytm from Antfin through an off-market transfer. On closing of this transaction, Sharma's shareholding in Paytm (direct and indirect) will increase to 19.42%, whereas Antfin's shareholding will reduce to 13.5%.

The acquisition will be made by Sharma's 100% owned overseas entity, Resilient Asset Management B.V. (Resilient) based in the Netherlands. Closing of the transaction will occur shortly at the prevailing market price. Based on the closing price as on 04 August 2023, the value of the 10.30% stake amounts to $628 million.

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