Paytm Founder Vijay Shekhar Sharma Acquires $628 Million Stake from Ant Financial
Paytm founder Vijay Shekhar Sharma has acquired a 10.30% stake in the Indian financial services firm from Ant Financial, in a deal worth $628 million. The move is seen as an effort to reduce Paytm's exposure to the Chinese company. Sharma's stake in Paytm will increase to 19.42%, while Ant Financial's shareholding will decrease to 13.5%. The deal is being executed off-market, with no cash payment involved. Paytm's stock rose over 6.5% on the news.