Reliance Capital Will Monetize 1% Stake in Paytm
According to the sources, Reliance Capital will sold its 1% share in Paytm to stay focus on its core business. Reliance capital owned 1% in Paytm and the valuation of the e-wallet company was valued at USD 4.8 billion.
The news was first published by Moneycontrol website. The leading investor in the Paytm, Alibaba Group is the potential buyer of the share.
In December Paytm CEO has sold his 1% equity of Paytm’s parent firm One97 Communications for about Rs 325 crore to invest in its new venture Paytm payment bank.
Paytm, which is run by One97 Communications, created two separate entities -Paytm E-commerce and Paytm Payments Bank. The e-wallet business will connect with payment bank in future using payment bank. On the question of Alibaba shares in Payment Bank, Paytm CEO denied an...