Ant Financial to sell shares worth Rs 2,200 crore in Paytm parent

MUMBAI: Ant Financial, the fintech arm of Chinese e-commerce giant Alibaba Group, is planning to offload shares worth nearly Rs 2,200 crore in One97 Communications, the parent company of Paytm, via block deals on Tuesday. Shares are likely to be offered at a floor price of Rs 809.7 apiece — a 6.4% discount to Paytm’s closing price of Rs 866 on Monday. Paytm shares gained 4% during Monday’s trade on BSE ahead of the anticipated transaction. Ant Financial, which currently holds a 9.85% stake in Paytm, is expected to sell around 4% of its holding through this block deal.