Resilient plans to sell up to 4.98% Paytm stake via block deal
Paytm clarified that it is not involved in the proposed transaction and the founder’s direct shareholding in Paytm will remain unchanged following the block deal.
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Netherlands-based Resilient Asset Management B.V. has proposed to sell up to 4.98% of its stake in Paytm through a block deal.
The proposed sale will be executed under an existing Optionally Convertible Debenture (OCD) arrangement between Resilient and Antfin (Netherlands) Holding B.V, filings with the stock exchanges show.
Based on the last close of Paytm's share price, the 4.98% stake would be worth around a little over Rs 5,000 crore.
Under the agreement, the economic benefits from the transaction will continue to belong to Antfin, even though the shares are currently held by Resilient, it added.
Resilient had acquired around 10.2% equity stake in Paytm from Antfin in August 2023 in exchange for OCDs issued to Antfin.
At the time of the transfer, Antfin retained the economic interest associated with the shares under the terms of the agreement.
Paytm clarified that it is not involved in the proposed transaction. The company also stated that the founder’s direct shareholding in Paytm will remain unchanged following the block deal.