Vijay Shekhar Sharma to buy 10.3% stake in Paytm from Antfin; stock zooms 11%

Vijay Shekhar Sharma stake in Paytm: Vijay Shekhar Sharma, the founder, managing director, and CEO of One 97 Communications, the parent company of Paytm, will purchase a 10.3 per cent stake in the company, as per the firm's regulatory filing on August 7.

Vijay Shekhar Sharma stake in Paytm: Vijay Shekhar Sharma will purchase a 10.3 per cent stake in the company. Image: Reuters

Paytm share price NSE, Vijay Shekhar Sharma stake in Paytm: Shares of One97 Communications, the parent company of digital payments company Paytm, zoomed over 11 per cent on Monday after the company informed bourses that Vijay Shekhar Sharma, the founder, managing director, and CEO, will purchase a 10.3 per cent stake in the company, as per the firm's regulatory filing on August 7. The stock opened at Rs 865 and gained as much as over 11 per cent to touch the day's high of Rs 887.7 from the previous close of Rs 796.6 on the NSE. The stock settled at Rs 851 apiece, up by Rs 54.4, or 6.83 per cent on the NSE.

Sharma will buy the stake from Antfin (Netherlands). The regulatory filing said, "Antfin will transfer 65,335,101 shares of the company to an entity 100 per cent owned by Mr. Sharma, Resilient Asset Management B.V. ("Transaction")."With this, Sharma’s shareholding in Paytm will increase to 19.42 per cent, whereas Antfin’s shareholding will decrease to 13.5 per cent. The total deal value is estimated to be $62.8 crore.

Post the announcement, Sharma tweeted, "I am proud of Paytm's role as a true champion of made-in-India financial innovation and our achievements in revolutionizing mobile payments and contributing to formal financial services inclusion in the country." As we announce this transfer of ownership, I would like to express my sincere gratitude to Ant for their unwavering support and partnership over the past several years," the tweet added.

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I am proud of Paytm's role as a true champion of made-in-India financial innovation and our achievements in revolutionizing mobile payments and contributing to formal financial services inclusion in the country. As we announce this transfer of ownership, I would like to express… https://t.co/poNwQIHs7Y

— Vijay Shekhar Sharma (@vijayshekhar) August 7, 2023

Paytm share price history

Paytm 's stock has given a positive return of nearly 2 per cent in the last 12 months (from August 8, 2022). In comparison, the headline index Nifty 50 has rallied nearly 12 per cent.

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