Alibaba Group’s Antfin to sell 4% stake in Paytm

Antfin, an Alibaba Group entity, will divest a 4% stake in Indian fintech firm Paytm through a block deal on 13 May, according to a term sheet.

The transaction, valued at about ₹2,066 crore, will be managed by Goldman Sachs (India) Securities and Citigroup Global Markets India, the term sheet filed with the National Stock Exchange showed. The offer floor price for sale of about 25.5 million shares has been set at ₹809.75 apiece, a 6.5% discount to Paytm’s parent One97 Communications Ltd’s closing price of ₹866.05 on the NSE on 12 May.