Paytm E-Commerce Pvt. Ltd is close to raising $180-200 million (around Rs1,210-1,350 crore) in an investment round led by Chinese internet giant Alibaba Group Holding Ltd, valuing the online retailer at about $1 billion, said two people familiar with the development.
The funding round will take the stake of Alibaba and its affiliate Ant Financial in Paytm E-Commerce, an entity newly created by One97 Communications Ltd to house the online retail business, to more than 50% from 42%, the two people said on condition of anonymity.
