Ant Financial exits Paytm, sells 5.84% stake for `3,980 crore

New Delhi: Chinese billionaire Jack Ma’s Ant Financial on Tuesday exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for Rs 3,980 crore through open market transactions.

Ant Group, through its affiliate Antfin (Netherlands) Holding BV, offloaded around 3.73 crore equity shares of Noida-based One97 Communications in large deals. Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.

Shares of One97 Communications fell 2.38 per cent to Rs 1,052.65 apiece on the BSE.

According to the bulk deal data on the BSE, Antfin (Netherlands) Holding BV offloaded nearly 3.73 crore equity shares, representing 5.84 per cent stake, in two tranches.

The shares were sold in the price range of Rs 1,067.53-1,067.63 apiece, taking the combined deal value to Rs 3,980.76 crore.

As of the June quarter, Antfin (Netherlands) Holding BV owned a 5.84 per cent stake in Paytm. Meanwhile, Paris-based financial services company Societe Generale through its two affiliates bought a total of 67.50 lakh shares or 1.06 per cent stake in Paytm for Rs 720.56 crore.

In addition, Hong Kong-based MY.Alpha Management through its arm -- MY Asian Opportunities Master Fund LP -- purchased 35 lakh equity shares or 0.55 per cent stake in Paytm for Rs 373.62 crore.