Vijay Shekhar Sharma, founder and chief executive of Paytm, has entered into a deal with Ant Financial to acquire a 10.30% stake in the Indian financial services firm in a move that appears to be orchestrated to cut the Noida-headquartered giant’s exposure to the Chinese company.
Resilient Asset Management, a firm fully owned by Sharma, is acquiring the stake from Ant Financial, Paytm said. The deal is being executed at Paytm’s share closing price on August 04, making the 10.3% Paytm stake worth $628 million.Â
Neither Sharma nor Resilient are making any cash payment in the deal, which is being executed off-market. Furthermore, Sharma has made no pledge, g …
