IiAS raises question on Vijay Shekhar Sharma’s promoter status in Paytm

International Investors Advisory Services (IiAS), an advisory firm, has raised questions regarding whether Paytm founder and CEO Vijay Shekhar Sharma should be classified as the company’s promoter. This comes in the wake of a ‘no-cash deal’ announced involving Sharma and Antfin (Netherlands) Holding B.V.

The recent transaction will increase Sharma’s shareholding in Paytm to 19.42 per cent after he acquires an additional 10.30 per cent from Antfin, thus making him the company’s largest shareholder. Furthermore, the Sharma Family Trust holds an additional 4.88 per cent in the company, managed in the name of Axis Trustee Services.