Alibaba exits India, sells its entire stake holding in Paytm for about Rs 13,600 crore

New Delhi, February 10

In a block deal, 3.4 per cent equity (or 2.1 crore shares) of Paytm’s parent company One97 Communications Ltd (OCL) have changed hands on Friday.

Sources in the know of the development say that Chinese multinational Alibaba has sold its entire stake in Paytm in today’s block deal.

With this sale, Alibaba is no longer a stakeholder in Paytm. The company had sold around 3.1 per cent of 6.26 per cent equity in Paytm in January.

This latest deal almost completes Alibaba’s exit from India since it had earlier sold its stakes in Zomato and BigBasket. The news will bring cheer to the market as it ends the Chinese stake holding in the homegrown Paytm.

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