China's Antfin to sell 4% stake in Paytm for Rs 2,065 crore via open market
MUMBAI: China's Alibaba Group is all set to reduce its shareholding in Paytm parent company - One 97 Communications - on Tuesday. As per sources, Alibaba affiliate Ant Group-backed Antfin Netherlands Holding BV will float 2.6 crore shares, which represent around 4% equity, in the open market.
The floor price for each share is kept at Rs 809.75, a 6.5% discount to Monday's closing prices. Based on this price, the stake sale may fetch the Chinese company about Rs 2,065 crore, based on the minimum price.
Shares of Paytm closed 4% higher at Rs 866.35 on the BSE amid a strong of buying interest seen in the Indian equity market.
Antfin has been reducing its stake in Paytm over the years. According to the shareholding pattern data of the company, it owned 9.85% equity in the Indian fintech company as of March 2025. In August 2023, Antfin divested a nearly 3.6% stake for Rs 2,037 crore.
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Indian Express
23 minutes ago
- Indian Express
Signal-free flyover proposed to ease congestion on routes connecting South Delhi with Gurgaon and Noida
Not just during the peak hours, many key stretches in South Delhi witness traffic snarls throughout the day. The Central government has finally come up with a proposal to decongest such areas — a 20-km elevated corridor to connect prominent areas in South Delhi to Indira Gandhi International (IGI) Airport and Gurgaon. The flyover will connect areas around AIIMS in South Delhi to Mahipalpur in Southwest Delhi. The bypass project will further be extended to the Gurgaon-Faridabad Road, said officials. The signal-free elevated corridor is estimated to cost around Rs 5,000 crore. 'At present, both Ring Road and Outer Ring Road are arterial routes, especially from Noida and Ghaziabad, for commuters travelling to Delhi airport and Gurgaon…These two stretches also provide connectivity between Noida via the DND flyway and Faridabad. Heavy traffic merges at NH-48, the Delhi-Gurgaon highway. So, traffic jams are witnessed daily,' said a senior official from the National Highways Authority of India (NHAI). Officials said that the corridor will start from AIIMS and connect to Nelson Mandela Marg in Vasant Kunj via Ring Road. At Nelson Mandela Marg, the Centre is planning to construct a 5-km-long tunnel, which will connect the airport and Dwarka Expressway. 'This corridor will be merged with a tunnel, and another corridor will be constructed towards Gurgaon and Faridabad Road,' said a senior NHAI official, adding, 'The elevated corridor from AIIMS to Nadira Marg, further connecting to Mehrauli-Gurgaon Road and Gurgaon-Faridabad Road, will act as a parallel corridor between Delhi and Gurgaon.' The projects, to be executed by the NHAI, were discussed in a meeting between Union Minister for Road Transport and Highways Nitin Gadkari, Delhi Chief Minister Rekha Gupta, and L-G Vinai Kumar Saxena last week. . The Inner Ring road that connects Noida via Ashram, DND flyway and the Outer Ring Road from Kalindi Kunj is surrounded by upscale areas like Lajpat Nagar, Maharani Bagh, Moolchand, South Extension, Nizamuddin, Greater Kailash, Panchsheel Enclave, Pamposh Enclave, Chirag Dilli, Nehru Place, CR Park and is largely used by residents of South Delhi. The upcoming corridor will be a major relief to residents, officials said. Officials said the estimated cost of this project is Rs 5,000 crore, but it will be finalised after a feasibility study is done. 'Once the feasibility study is done, the existing flyovers, underpasses and metro lines will also be studied. Then a decision will be taken to go for a complete elevated corridor or there will be elevated plus underground…These are routine processes done during any upcoming new project,' said the official. In 2019, the Public Works Department in Delhi had submitted a proposal for the bypass project. While the PWD was the executing agency, the funding was to be done by the Centre. The AIIMS-Mahipalpur elevated corridor project, however, did not take off due to the pandemic. The project is now on track, according to officials. 'Currently, the bids for preparation of Detailed Project Report (DPR) have been invited, which are to be received by June 27,' said officials. This is one of the six other major upcoming infrastructure projects being planned by the Central government to decongest Delhi and improve connectivity between Delhi and neighbouring cities in NCR. Under these mega projects, the Ministry of Road Transport and Highways also has a plan to construct an interchange at Kalindi Kunj intersection of Delhi-Noida Road and Agra Canal Road near Okhla Barrage. The 0.5 km stretch is expected to cost Rs 500 crore. Officials said that a feasibility study was conducted by PWD in Uttar Pradesh through the Central Road Research Institute (CRRI) in November 2022 to address the traffic problems faced by the daily commuters using the Kalindi Kunj metro station and those travelling between Delhi, Noida, and Faridabad. 'In its report, CRRI recommended the construction of an interchange and flyovers at the Kalindi Kunj intersection to eliminate the conflict of traffic. During the recent meeting, it has been emphasised to address severe traffic congestion at Kalindi Kunj, and it was suggested to NHAI to prepare a DPR for an interchange at Okhla Barrage, considering CRRI's report and the urgency of immediate remedial action,' said the officials.. Bids for preparing the DPR for this project have been invited and are expected to be received by June 23.
Time of India
26 minutes ago
- Time of India
How can retail investors benefit from gold and silver ETFs?
Prices of both gold and silver rose fast in recent times, leading to high interest from retail investors. Investors can now accumulate both these metals through the mutual fund route. WHAT ARE GOLD AND SILVER ETFs ? HOW CAN AN INVESTOR BUY THEM? Gold and silver ETFs or exchange-traded funds, are vehicles that help investors buy these precious metals and take exposure to them, without the need to physically buy them or store them. The ETFs are traded on the stock exchange like any other stock and their value reflects the performance of the underlying precious metals. Gold and silver ETFs typically invest in gold/silver bullion, gold/silver futures contracts, and they aim to track the price of the precious metal as closely as possible. Investors who do not have demat accounts to buy a gold ETF or find it cumbersome to trade, can buy a gold or silver fund, which invests in a gold or silver ETF. WHAT IS THE ADVANTAGE OF BUYING PRECIOUS METALS THROUGH THE MUTUAL FUND ROUTE? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Click Here Undo Buying precious metals through the mutual fund route is beneficial as there is no storage cost, worries of purity, making charges or chances of theft. Buying units of the mutual fund scheme gives you exposure to gold or silver as an asset class and helps you track gold or silver prices at a very low cost. Investors can buy either a gold or silver ETF/fund, or get exposure to gold through a multi-asset fund that buys gold and silver as a part of its portfolio. HOW MANY GOLD AND SILVER ETFs ARE AVAILABLE TO INVESTORS? Live Events There are 20 gold ETFs that manage assets worth Rs 62,124 crore as of May 31, 2025. In the case of silver there are 15 ETFs that manage Rs 15,500 crore. WHAT HAS BEEN THE RETURN THAT GOLD AND SILVER FUNDS HAVE GIVEN? Gold has rewarded investors well over the last decade. In rupee terms, over the last one year, gold funds have returned 30.89%, while silver funds have returned 15.18%. Over longer tenures of three years they have returned 22.05% and 18.29%, respectively. HOW MUCH GOLD AND SILVER SHOULD INVESTORS BUY IN PORTFOLIOS? Gold acts as a portfolio diversifier and acts as a hedge against rising inflation, while silver has industrial usage and is used to make jewellery, coins, photography, electronics and solar panels. Wealth managers believe investors should allocate 10-15% to gold and silver in their portfolios, based on their risk appetite and asset allocation. Investors could stagger their purchases in these precious metals through systematic investment plans (SIPs).
Mint
27 minutes ago
- Mint
The US and China Are Talking Again. Don't Call It a Reset
Trade negotiations between the US and China in London mark a cautious step toward easing tensions, but not a new beginning. It's a short-term strategy to avoid further deterioration — a fragile truce that could be reversed at any moment. At the core is a deeper issue: National security. Both sides now view trade through that lens, and handshakes won't fix it. Washington must recognize that Beijing seeks respect and won't accept a one-sided, long-term deal. China, for its part, needs to understand that it won't be business as usual — and that the US will expect more concessions and market access to the world's second-largest economy. The alternative is continued hostility, which will make for a more chaotic global trade environment, and a more dangerous world. The London climbdown is positive, but precarious. Rapprochement has turned into recrimination before. After the initial euphoria of a trade-war ceasefire agreed in Geneva in May, both sides accused the other of reneging on a deal to temporarily lower tariffs that had climbed well above 100%. Now negotiators say they've reached an agreement in principle on a framework to deescalate trade tensions, based on the consensus forged in Geneva. Delegations from both sides will take the proposal back to their respective leaders, following nearly 20 hours of talks over two days. 'Once the presidents approve it, we will then seek to implement it,' US Commerce Secretary Howard Lutnick said. The full details of the accord weren't immediately available, but US officials said they 'absolutely expect' that issues around shipments of rare earth minerals and magnets will be resolved. There are no winners or losers coming out of this, notes Steve Okun, founder and chief executive officer of AC Advisors. The fundamental questions are much larger than any round of talks. 'The Trump administration needs to decide whether it views Beijing as a strategic competitor, or an existential threat,' he told me. 'Washington can take the economic hit from a trade war, but politically, Xi Jinping can suffer the hit for longer than Trump can. So one side has economic leverage, and the other political leverage — that's a standstill, for now.' The Chinese president is biding his time, despite a sluggish economy. In the most recent sign of how the trade war is hurting, exports rose less than expected last month. The worst drop in US-bound shipments since February 2020 — the outbreak of the pandemic — counteracted strong demand from elsewhere. Still, sales to other markets are providing much-needed support for an economy stuck in deflation and struggling with weak domestic demand. Beijing is sticking to its narrative that this trade war is Washington's problem, and that China is being unfairly targeted. A recent Xinhua commentary warned that America's security-focused view of economic issues risks undermining global cooperation. There is a pathway to peaceful coexistence, but compromises are required, notes Ryan Hass of the Brookings Institution. To break through with Xi, Trump will need to acknowledge that both countries are major powers. Neither can dictate terms to the other. Both would be hurt by high tariffs on each other's goods — but on their own, they're not enough to force capitulation. The US public has no appetite for a broader conflict with Beijing. Disapproval of China's behavior may be high, but the top priority is still to avoid war. Americans are clear in their desire to manage competition without that escalating into open conflict. For that to happen, Washington must recognize that Beijing craves respect. The US would be wise to pay heed to the Chinese concept of mianzi or 'face' — Xi will only agree to a long-term deal that he can pitch at home and abroad as a win. Beijing has taken lessons from Trump's first trade war, and judged that agreement to be one-sided in favor of Washington. It won't make that mistake again. China doesn't always like reciprocating face, but officials would be wise to give some to Trump, too. His tariffs have been outlandish, but his supporters also demand that he show strength, not concession. Beijing should be able to understand what happens when politicians need to cater to public pressure. Neither side has the upper hand to make the other come away an obvious loser. At the most, the London talks might have achieved just enough to help shape the future on a less-hostile basis. That in itself is progress — but it would be a mistake to call this moment a reset. More From Bloomberg Opinion: This column reflects the personal views of the author and does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Karishma Vaswani is a Bloomberg Opinion columnist covering Asia politics with a special focus on China. Previously, she was the BBC's lead Asia presenter and worked for the BBC across Asia and South Asia for two decades. This article was generated from an automated news agency feed without modifications to text.
