Date: Aug 09, 2023
Place: New Delhi, India
Vijay Shekhar Sharma, the founder and CEO of Paytm, is poised to increase his stake in the company by 10.3%. The move involves acquiring shares from Antfin (Netherlands) Holding BV, a subsidiary of China’s Ant Group. Upon completion, Sharma’s combined ownership (direct and indirect) will rise to 19.42%, solidifying his role as a major shareholder.
Antfin’s stake, previously a substantial portion, will be reduced to 13.5% as a result of this transaction. This shift holds significance in the context of evolving cross-border dynamics.
The acquisition process is facilitated by Resilient Asset Management BV, an overseas entity owned entirely by Sharma. The transaction involves issuing optionally convertible debentures (OCDs) to Antfin, negating any cash payment.
This development follows Ant Group’s decision to reduce its stake, indicating a broader trend. The shift in ownership is set to position Vijay Shekhar Sharma as the central figure in Paytm’s ownership landscape.
