Anil Ambani’s Reliance Capital sells Paytm stake to Alibaba for Rs 275 crore

Anil Ambani-led Reliance Capital sold its stake in Paytm to Alibaba for Rs 275 crore. Reliance Cap sold around 1% of its stake in the digital payment company.

Reliance Capital had invested Rs 10 crore for this stake in Paytm.

The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.

However, as per reports, Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at $1 billion.

In December last year, Paytm founder and CEO Vijay Shekhar Sharma had sold 1% of his holding in One97 Communications, the parent firm of the digital payments firm, to raise about Rs 325 crore.