- Ant Group will sell a 4% stake in Paytm for $242 million at ₹809.75 per share, a 6.5% discount to Monday’s closing price.
- Goldman Sachs India Securities and Citigroup Global Markets India will manage the sale, according to a term sheet.
Chinese fintech powerhouse Ant Group is set to divest a 4% stake in Indian digital payments firm Paytm for $242 million.
The sale price has been set at ₹809.75 per share, representing a 6.5% discount compared to Paytm’s closing price on the same day.
Ant Group, affiliated with the Alibaba Group, has been gradually reducing its presence in Paytm, marking another step in its retreat from one of India’s most high-profile fintech ventures.
While the identities of the buyers have not been disclosed, the transaction will be overseen by Goldman Sachs India Securities and Citigroup Global Markets India, the term sheet noted.
Both Paytm and Ant Group declined to comment on the development when approached.
This planned sale follows a series of stake reductions in Paytm by global investors. Notably, Ant had sold a 10.3% stake to Paytm’s founder and CEO, Vijay Shekhar Sharma in August 2023.
Other major investors, including Warren Buffett’s Berkshire Hathaway and Japan’s SoftBank Group, have also exited their positions in the company over the past two years, as indicated by stock exchange data.
The sell-down trend comes amid a period of recalibration for Paytm, which has been navigating regulatory scrutiny and shifting investor sentiment following its underwhelming public market debut in 2021.
The term sheet did not provide any timeline for the completion of the transaction.
Edited by Annette George
