Ant Group sells 4% of "Alipay India" shares worth approximately 1.7 billion

On May 12, Ant Group will sell its 4% stake in Indian payment company Paytm for US$242 million (approximately 1.751 billion yuan), according to a term sheet seen by Reuters on Monday. Paytm is known as the "Alipay of India".Ant Group, an affiliate of Alibaba Group, will sell 4% of its shares at 809.75 rupees per share, a 6.5% discount to Paytm's closing price on Monday. It's unclear who the buyer is. Goldman Sachs Securities India and Citigroup Global Markets India will lead the stake sale, according to the term sheet.

Ant Group

Paytm has experienced a series of share sales over the past two years, including the exits of Warren Buffett's Berkshire Hathaway and Japan's SoftBank Group, according to exchange data.

Previously, Ant Group sold its 10.3% stake in Paytm to Paytm founder and CEO Vijay Shekhar Sharma in August 2023, and is no longer the largest shareholder.

As of press time, Ant Group and Paytm have not commented on this.