Paytm CEO Sharma to buy stake worth $628 million in co from Antfin Holding
The Hindu
Paytm CEO Vijay Shekhar Sharma to buy 10.3% stake from Antfin, valued at $628M. Sharma's stake to increase to 19.42%, Antfin's to 13.5%. No change in management or control, Sharma & board continue roles.
Paytm's founder and CEO, Vijay Shekhar Sharma, will buy a 10.3% stake valued at $628 million in the company from its largest shareholder, in a bid to simplify its ownership structure, the fintech company said in a filing on August 7.
Mr. Sharma's stake purchase from Antfin (Netherlands) Holding B.V. is valued at $628 million, as per Paytm's last closing price of 796.6 rupees a share.
Antfin will cease to be the largest shareholder in the company following the transfer.
Mr. Sharma's stake in the digital payments firm will increase to 19.42%, while Antfin's shareholding will reduce to 13.5%.
The company added that there would be no change in the management or control of Paytm, with Mr. Sharma and the existing board continuing in their roles.
RBI to launch a two-month campaign in January 2026 to address pending grievances with the Ombudsman for improved customer service.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.