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Alibaba Paytm Investment Selling: A big news related to Paytm company, the mobile app used for online payment, is coming out. Chinese company Alibaba has sold its remaining direct stake in Paytm’s parent company One97 Communications. This information has been given by Alibaba on Friday, in which it has been said that a stake sale deal worth more than Rs 13,000 crore has been done in Paytm. Know what is the whole matter…
Stake sold for so many crores
Alibaba has informed on Friday that it has sold its remaining 3.16 percent direct stake in Paytm, which was about Rs 13,600 crore. With this deal, Alibaba has sold its entire stake in the company.
Stake was sold last year as well
Even before this, till December 2022, Alibaba had a 6.26 percent stake in Paytm. He had sold 3.1 per cent stake in it in January. The deal for the sale of the remaining 3.16 percent stake has been done on Friday (February 10). Apart from Alibaba, its group company Ant Financial has about 25 per cent stake in Paytm. E-mails sent to Paytm and Alibaba in this deal did not elicit any response.
Sold stake in these companies
Chinese company Alibaba sold its stake in Zomato and BigBasket. Alibaba is one of the early investors of Paytm. After this deal, the way for Alibaba to go out of India has become completely clear.
Paytm losses reduced
Last year in the December quarter of 2022, Paytm performed brilliantly. Due to this, the losses of Paytm came down, and after that there was a boom in the shares of the company. Paytm Company had just released the results of October-December 2022 on 3rd February 2022. Since then, till February 9, Paytm had strengthened by more than 34 percent. Due to this, the shares of Paytm’s parent company One97 Communications have seen a decline of up to 9 percent.
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