Reliance Capital Sells 1% Paytm Stake To Alibaba Group
Reliance Capital sold its nearly 1% stake in online payments and mobile wallet service provider Paytm to China’s Alibaba Group for Rs 275 crores. This deal reaped huge gains for Reliance Capital.The financial services arm of Reliance Group had invested Rs 10 crores for this stake in Paytm. The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as...
ToRead the Full Story, Subscribe to
Access the exclusive LEGAL ERAStories,Editorial and Expert Opinion
Reliance Capital sold its nearly 1% stake in online payments and mobile wallet service provider Paytm to China’s Alibaba Group for Rs 275 crores. This deal reaped huge gains for Reliance Capital.
The financial services arm of Reliance Group had invested Rs 10 crores for this stake in Paytm. The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
Reportedly, Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at $1 billion.
