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BENGALURU: Paytm’s founder and CEO, Vijay Shekhar Sharma, will buy a 10.3 per cent stake valued at US$628 million in the company from its largest shareholder, in a bid to simplify its ownership structure, the fintech company said in a filing on Monday (Aug 7).
Sharma’s stake purchase from Antfin (Netherlands) Holding BV is valued at US$628 million, as per Paytm’s last closing price of 796.6 rupees a share.
Antfin will cease to be the largest shareholder in the company following the transfer.
Sharma’s stake in the digital payments firm will increase to 19.42 per cent, while Antfin’s shareholding will reduce to 13.5 per cent.
The company added that there would be no change in the management or control of Paytm, with Sharma and the existing board continuing in their roles.
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