Resilient Asset Management Sells Paytm Shares Worth ₹2,949 Crore

Resilient Asset Management, an entity owned by Vijay Shekhar Sharma, has divested 1.92 crore shares in Indian fintech firm Paytm, formerly One97 Communications. The transaction, conducted via a block deal, was valued at approximately ₹2,948.9 crore (roughly $350 million USD). The shares were sold at a discount of about 3% to Paytm's closing price on Monday.

Institutional investors including Goldman Sachs, BNP Paribas, ICICI Prudential, HSBC Mutual Fund, and SBI Mutual Fund were among the buyers of the shares. Following this sale, Resilient's stake in Paytm is reduced to approximately 7.2%, down from its previous holding of 10.03%.

The sale is linked to Antfin's investment in Paytm, with Antfin being an affiliate of Alibaba. Antfin initially invested in Paytm in 2015. Due to geopolitical tensions between India and China, ownership structures were altered in 2023. Resilient acquired the stake from Antfin and issued optionally convertible debentures (OCDs) to Antfin, allowing Antfin to retain the economic interest in the shares.

Paytm operates as a major digital payments and financial services platform in India. The company has recently faced significant regulatory scrutiny from Indian authorities. This large share sale by a key stakeholder is expected to influence market sentiment and the company's stock performance.