Resilient Asset Management, a Netherlands-based entity wholly owned by Paytm founder and CEO Vijay Shekhar Sharma, has proposed to sell up to a 4.98% stake in the fintech company.
In a regulatory filing, Paytm stated that Resilient has proposed to undertake a “Block Market Trade” to sell the stake in One 97 Communications, the parent company of Paytm.
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The deal will be carried out under an existing Optionally Convertible Debenture (OCD) agreement with Antfin (Netherlands) Holding.
According to a Reuters report, the stake sale would be valued at approximately Rs50.4bn ($527.71m) based on Paytm’s closing price.
The floor price for the block trade has been set at Rs1,535.10 per share, local reports stated.
Resilient had acquired approximately a 10.20% stake in Paytm from Antfin in 2023. The transaction was carried out through OCDs rather than a cash payment.
Under the arrangement, Resilient secured ownership and voting rights over the shares, while Antfin retained the economic value associated with them.
Antfin will retain the proceeds from the proposed block trade as well.
Paytm added: “The company is not a party to the transaction, and there is no change in the Founder’s direct shareholding in Paytm.”
According to Paytm’s website, more than 44 million merchants and businesses use Paytm to accept digital payments.
Last month, Paytm Europe Payments, a step-down subsidiary of One 97 Communications, secured a payment institution licence from Luxembourg’s financial regulator.
