Alibaba exits India, sells entire stakeholding in Paytm; shares down by 8%
Shortpedia
Content Team
Image Credit: FPJ
In a block deal, 3.4 per cent equity (or 2.1 crore shares) of Paytm's parent company One97 Communications Ltd (OCL) changed hands on Friday. According to sources with knowledge of the matter, Chinese giant Alibaba sold all of its stock in Paytm in today's block transaction. With this transaction, Alibaba lost its ownership of Paytm. In January, the business sold about 3.1% of the 6.261% stock in Paytm.
