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Antfin may sell around 3.6% stake in fintech firm Paytm through a block deal. The transaction will be done at Rs 880.1 per share. If media reports are to be believed, Antfin will sell around 23 million shares. Antfin is a venture of China’s Alibaba Group.
Shareholding till June quarter: Antfin’s stake in Paytm is estimated to be around 23.79% by June 2023. The company’s founder and CEO Vijay Shekhar Sharma held about 9.12% stake at the end of the June quarter. Earlier this month, Vijay Shekhar Sharma had agreed to acquire 10.3% stake from Antfin through an off-market transfer. After the deal is completed, Vijay Shekhar Sharma’s stake will increase to 19.42% making him the largest shareholder, while Antfin’s stake will decrease to 13.5%.
Stocks are bullish: Paytm shares have done well this year with a rally of around 71%. On Thursday, Paytm shares fell 0.15% on BSE to Rs. was closed at 904.2. Let it be known that Paytm’s net loss has also come down in the June quarter. Now it has come down to Rs 357 crore. In the first quarter Rs. 14,845 crore in loans, showing a year-on-year growth of 167%.