Anil Ambani’s Reliance Capital sells Paytm stake to Alibaba for Rs 275 crore
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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 inPaytm .
The deal gives a valuation of over $4 billion to Paytm, which is already backed byAlibaba 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 inOne97 Communications , the parent firm of the digital payments firm, to raise about Rs 325 crore.
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Reliance Capital had invested Rs 10 crore for this stake in
The deal gives a valuation of over $4 billion to Paytm, which is already backed by
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
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