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Resilient Asset Management plans sale of up to 4.98% in Paytm parent
The proposed stake sale is valued at about ₹5,040 crore based on the stock's latest closing price of ₹1,502.
One97 Communications, the parent company of Paytm, said in a regulatory filing that Resilient Asset Management, wholly owned by founder and CEO Vijay Shekhar Sharma, plans to sell up to 4.98% of its stake in the company.
The proposed sale comes as Paytm’s shares hit a 54-month high last week, extending their rebound since March, after gains of more than 70% and with the stock crossing the ₹1 lakh crore market capitalization mark.
Based on the shares’ latest closing price of ₹1,502, the planned 4.98% stake sale would be worth about ₹5,040 crore, according to calculations cited by the report.
Paytm said it is not a party to the transaction and there will be no change in the Sharmas’ direct shareholding. The filing also ties the shares being sold solely to a 2023 optionally convertible debenture arrangement linked to Antfin, which has been reducing its Paytm stake amid regulatory scrutiny over Chinese ownership in Indian fintech firms.