All Access

Fintech Deals

Standard

Fintech Deals Alerts

Alert

Fintech Deals Thought Bubble

Thought Bubble

mustard

BFD Expert Voices - Private Credit

BFD Expert Voices

Paytm CEO Vijay Shekhar Sharma is buying a 10.3% stake in the company from an affiliate of China's Ant Financial.

Why it matters: The deal will simplify Paytm's ownership structure while reducing concerns over Chinese control of the Indian payments firm.

What's happening: Resilient Asset Management, a Netherlands-based firm wholly owned by Sharma, will acquire nearly half of Ant's stake in Paytm from a Netherlands holding company.

Details: The transaction is being executed at Paytm's closing price on Aug. 4, making the 10.3% stake worth about $628 million.

Sharma's offshore entity will issue Ant optionally convertible debentures, letting the Chinese firm "retain economic value of the 10.3% stake," Paytm said in a filing.

"Accordingly, no cash payment will be made for this acquisition, and neither will any pledge, guarantee, or other value assurance be provided by Mr. Sharma, directly or otherwise," it added.

State of play: Following the deal, Sharma's holding in Paytm will rise to 19.4%, making him the company's largest shareholder.

Meanwhile, Ant's stake will decline to 13.5%.

Zoom out: The deal could mitigate concern over Chinese control of one of India's most prominent tech firms as geopolitical tensions rise between the nations.

Earlier this year, India banned more than 200 Chinese-owned apps from operating in the country.

Between the lines: Reducing Ant's ownership also could help Paytm gain licenses it needs to operate in India.

Last November, the Reserve Bank of India rejected Paytm's payment aggregator's license application.

In March, however, it received an extension to resubmit its application.

Of note: Ant isn't the only multinational looking to unload shares in Paytm, which has seen its share price fall 45% since listing in November 2021.

Chinese e-commerce giant (and Ant affiliate) Alibaba sold its entire stake in the payments firm in February for $167 million.

Separately, Softbank has pared back its Paytm stake through multiple open-market deals.

Paytm CEO buys 10% stake from Ant for $628M

The deal reduces concerns of Chinese control over the Indian firm

Vijay Shekhar Sharma, founder of Paytm/Photo: Bryan van der Beek via Getty Images

Fintech

Paytm CEO Vijay Shekhar Sharma is buying a 10.3% stake in the company from an affiliate of China&#x27;s Ant Financial.Why it matters: The deal will simplify Paytm&#x27;s ownership structure while reducing concerns over Chinese control of the Indian payments firm.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

boulder

detroit

kansas-city

columbus

austin

dallas

atlanta

washington-dc

nw-arkansas

chicago

indianapolis

nashville

richmond

colorado-springs

houston

san-francisco

seattle

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

huntsville

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

Paytm CEO buys 10% stake from Ant for $628M

What to read next