India: Three Paytm investors sell 4.3% stake to Alibaba

Photo: Bloomberg

Three investors in Paytm’s owner One97 Communications Ltd—Reliance Capital, SVB (Saama Capital) and SAP Ventures—have sold their combined stake of about 4.3% to the company’s existing investor Alibaba Group Holding Ltd and its payments arm Ant Financial, two people close to the development said.

The secondary stake sale values One97 at close to $5.7-5.9 billion, the people said on condition of anonymity.

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