Paytm block deal: China’s Ant Group to exit fintech major, suggest reports
One 97 Communications, the parent company of Paytm, is expected to see China’s Ant Group fully exit the Indian payments firm. According to sources cited by NDTV Profit, Chinese e-commerce major Alibaba group firm Antfin plans to sell its remaining 5.84% equity stake in Paytm through block deals on Tuesday, with the transaction estimated to be worth around ₹3,845 crore.
The floor price has reportedly been fixed at ₹1,020 per share, representing a 5.4% discount to Paytm’s last closing price of ₹1,078.20 on August 4 on the NSE.
