NEW DELHI: (Aug 18) Paytm Founder and Chief Executive Vijay Shekhar Sharma will not gain financially from the proposed sale of a 4.98 per cent stake in One97 Communications Ltd (Paytm) undertaken by investment vehicle, Resilient Asset Management BV, with the proceeds going to Antfin.
Additionally, Sharma’s roughly 9 per cent direct stake in Paytm will remain unchanged, underscoring the founder’s continued commitment to the company. Paytm said it is not a party to the proposed sale, and that “there will be no change in the founder’s (Sharma’s) direct shareholding”, as part of its exchange filing late Monday evening.
The proposed block market trade will be executed under an existing optionally convertible debenture agreement between Resilient and Antfin.
Source: PTI News
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