China’s Ant Group is set to sell its remaining 5.84% stake in Indian digital payments firm Paytm through block deals worth around 38 billion rupees (approximately US$434 million), according to a term sheet reviewed by Reuters.
The stake will be sold at a floor price of 1,020 rupees per share. Goldman Sachs India Securities and Citigroup Global Markets India are managing the sale.
This marks Ant’s full exit from Paytm’s parent company, One97 Communications, following earlier stake reductions.
In August 2023, Ant sold a 10.3% holding and offloaded another 4% in May this year.
Other major investors, including Berkshire Hathaway and SoftBank Group, have also reduced or exited their positions in Paytm over the past two years, based on stock exchange filings.
Paytm and Ant Group have not responded publicly to the reported deal.
Featured image: Edited by Fintech News Malaysia, based on image by Lakshmisreekanth via Wikipedia
