7/08/2023 9:18:40 AM | Source: Reuters
Paytm CEO Sharma to buy 10.3% stake in co from Antfin Holding
-Paytm's founder and CEO, Vijay Shekhar Sharma, will buy a 10.3% stake valued at $628 million in the company from its largest shareholder, in a bid to simplify its ownership structure, the fintech company said in a filing on Monday.
Sharma's stake purchase from Antfin (Netherlands) Holding B.V. is valued at $628 million, as per Paytm's last closing price of 796.6 rupees a share.
Antfin will cease to be the largest shareholder in the company following the transfer.
Sharma's stake in the digital payments firm will increase to 19.42%, while Antfin's shareholding will reduce to 13.5%.
The company added that there would be no change in the management or control of Paytm, with Sharma and the existing board continuing in their roles.
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
Department of Commerce introduces Diamond Imprest Au...
Daily Commodity Market Outlook 22.01.2025 by Mr. An...
TCS soars on the bourses
Hiring in India up by 31 pc in Dec, AI job market bo...
Stock Picks : Reliance Industries Ltd and DLF Ltd By...
India witnesses 8 pc jump in average flat size in 20...
Stock of the day : Aditya Birla Fashion and Retail L...
Pre-Budget Quote on OTT and Entertainment Sector by ...
Spot Silver is likely to rise further towards $31.20...
Pre-budget expectation Quote on Retail Industry by V...
