Vijay Shekhar Sharma to buy 10.3% stake in Paytm from Antfin in no-cash deal

Fintech firm One97 Communications founder and CEO Vijay Shekhar Sharma will acquire a 10.30 per cent stake in Paytm from Antfin (Netherlands) Holding BV through an off-market transfer in a no-cash deal.

The deal turns One97 Communications, which operates under Paytm brand name, into a majorly Indian-owned company from being majorly owned by Chinese entities.

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

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 make him the largest shareholder in the company with a total stake of 19.42 per cent.