China’s Ant Group may sell about 5% of Paytm via OFS

China’s largest fintech conglomerate Ant Group is likely to sell at least 5% of its 30.33% stake in Paytm parent One97 Communications before the latter’s Initial Public Offering (IPO) slated for November, sources aware of the matter told ET.

This is because Paytm wants to bring down Ant’s stake to below 25% to comply with norms by Securities and Exchange Board of India (Sebi), for listing as a ‘professionally managed company’, they said.

The sale is likely to be part of Paytm’s Offer For Sale (OFS).