Paytm Stake Sale: Vijay Shekhar Sharma’s Entity Sells 4.98%
By Business Desk
Resilient Asset Management, controlled by Paytm founder Vijay Shekhar Sharma, plans to sell up to 4.98% of Paytm shares. Proceeds go to Antfin (Netherlands) Holding BV.
Resilient Asset Management BV, an entity controlled by Paytm founder Vijay Shekhar Sharma, intends to divest up to a 4.98% stake in One 97 Communications (Paytm).
The proceeds from this planned sale are designated for Chinese investor Antfin (Netherlands) Holding BV, aligning with a prior 2023 agreement.
Transaction Specifics
- Seller: Resilient Asset Management BV (Vijay Shekhar Sharma-owned)
- Stake: Up to 4.98% in One 97 Communications (Paytm)
- Recipient of Proceeds: Antfin (Netherlands) Holding BV
- Basis: 2023 agreement
This strategic move follows Resilient’s earlier acquisition of a 10.20% stake from Antfin, a transaction structured to reduce the influence of the Chinese backer on Paytm.
Despite this transfer of shares, the economic interest associated with the 10.20% stake remained with Antfin, a detail crucial to understanding the company’s efforts to rebalance its shareholding.
Recent Developments and Outlook
- Ant Group fully exited Paytm in August of the previous year.
- Bernstein recently raised Paytm’s target price to Rs 2,200 per share.
- This marks the first time the target price surpassed Paytm’s debut price of Rs 2,150 from November 2021.
One 97 Communications (Paytm) has clarified its non-involvement in the current transaction, asserting that Vijay Shekhar Sharma’s direct shareholding remains unchanged.
The proposed stake sale by Resilient highlights ongoing shifts in Paytm’s ownership structure and investor sentiment, particularly following positive analyst revisions.