Vijay Sharma to buy 10.3% stake in Paytm

PTI

Updated At : 02:17 PM Aug 08, 2023 IST

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New Delhi, August 7

Fintech firm One97 Communications founder and CEO Vijay Shekhar Sharma will acquire 10.3% stake in Paytm from Antfin (Netherlands) Holding BV through an off-market transfer in no-cash deal.

Deal dynamics
Sharma will buy 10.3% stake in Paytm from Antfin through his 100% owned overseas entity Resilient Asset Management BV
Resilient Asset in return will issue optionally convertible debentures to Antfin

Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma.

Pursuant to this transaction, there would be no change in the management or control of Paytm, since Sharma would continue as managing director and CEO, and the existing Board would continue as it is.

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