Vijay Shekhar Sharma to buy 10% Paytm stake from Ant Financial in no-cash deal

China’s Ant Financial Services has transferred its 10% stake in Paytm to Resilient Asset Management, an entity fully owned by Paytm’s founder and CEO Vijay Shekhar Sharma, the fintech major said in a filing to the stock exchanges on Monday morning.

The transfer amounts to 65,335,101 shares in total and will take Sharma’s shareholding in the company to around 19.42%, while Ant Financial Services will see its ownership reduce to 13.5%.

The 10.3% stake has been valued at $628 million.