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China's Ant Group plans exit from Paytm with ₹3,800 cr share sale: Report
The term sheet shows that Ant Group, which is associated with Chinese multinational Alibaba Group, will offload its remaining 5.84 per cent stake in Paytm. The shares will be sold at a minimum price of ₹1,020 each.
The transaction will be led by two major financial institutions: Goldman Sachs India Securities and Citigroup Global Markets India, as stated in the term sheet. When contacted, both Paytm and Ant Group did not provide any immediate response to Reuters ' request for comments.
Previous exits by major investors
Paytm, listed under One 97 Communications, has seen several significant investors exit in the past two years. According to stock exchange data, Warren Buffett's Berkshire Hathaway and Japan's SoftBank Group have previously sold their stakes.
Ant Group itself has been reducing its shareholding in the company. It sold a 4 per cent stake in May and had earlier offloaded a 10.3 per cent stake in August 2023.
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