Antfin may sell 3

Antfin may sell 3.6% in Paytm through a block deal

Promoter Antfin (Netherlands) Holding BV is likely to sell a 3.6% stake or nearly 23 million shares in One97 Communications, the parent company of Paytm, through a block deal on Friday, according to media reports.

The transaction will be done at Rs 880.1 per share, or at a 2.7% discount to the last closing price.

Earlier this month, Paytm’s founder and CEO Vijay Shekhar Sharma entered into an agreement to buy a 10.3% stake in the company through an off-market transfer from Antfin. On the completion of the deal, Sharma’s stake in the company will rise to 19.42% whereas Antfin’s stake will reduce to 13.5%.

According to the recently-disclosed annual report, the company’s total revenue rose to Rs 7,990 crore in 2022-23 (April-March) from Rs 2,802 crore in 2020-21.

Revenue of the payments business grew to Rs 4,930 crore in 2022-23 from Rs 1,981 crore in 2020-21. The payments business contributed 62% to the company’s total revenues in 2022-23.

On Thursday, shares of Paytm closed 0.2% lower at Rs 04.20 on the BSE.