Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
August 19, Saturday 2017 6:48 PM       

       HEADLINES: Sreenath's family submits complaint to CM                                              Probe needed against Thomas Chandy: A K Antony                                              Malappuram collector orders to remove check-dam constructed by P V Anwar MLA                                              Yet another ‘Blue Whale’ death in Kerala? Mother talks about her dead son                                              Banned currency worth Rs. 10 crore ceased from Kayamkulam                                              Solution to Kashmir, terrorism, before 2022: Rajnath                                              Yogi takes dig at Rahul, says Gorakhpur isn’t 'picnic spot'                                              RBI to issue new fluorescent blue Rs 50 notes                                              14 dead in twin attacks as Spanish police launch manhunt                                              Indonesia begins countdown to 2018 Asian Games                                              Some felt Kumble was strict but not me, says Wriddhiman Saha                                              Kaumudi Facebook
       BUSINESS Next Article: Economy to grow 7.1% in FY17, Dec qtr GDP surprising: Fitch  
       Reliance Cap sells Paytm stake for Rs 275 cr
 
         Posted on :19:05:15 Mar 7, 2017
   
A A
       Last edited on:19:05:15 Mar 7, 2017
         Tags: Reliance Cap, Paytm stake for Rs 275 cr
 
NEW DELHI: Reliance Capital has sold its nearly 1 per cent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm.
 
The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm.
 
The deal gives a valuation of over USD 4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
 
Sources said that Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at USD 1 billion.
 
A Reliance Capital spokesperson declined to comment on the deal while Paytm spokesperson also did not comment.
 
Earlier, Reliance Capital had said it would trim its proprietary investment portfolio as part of its plans to monetise non-core assets.
 
In December last year, Paytm founder and CEO Vijay Shekhar Sharma had sold 1 per cent of his holding in One97 Communications, the parent firm of the digital payments firm, to raise about Rs 325 crore.
 
This money was to be pumped into the group's payments bank operations, which are slated to commence soon.
 
Alibaba Singapore E-commerce, along with investment firm SAIF Partners, is also slated to invest USD 200 million in Paytm's online marketplace unit.
A A
       BUSINESS
Next Article: Economy to grow 7.1% in FY17, Dec qtr GDP surprising: Fitch
 
 
BUSINESS HEADLINES
Infosys board approves up to Rs. 13,000 cr buyback offer  
PM to launch Rs 15k-cr road projects in Rajasthan  
Sikka quits Infosys after Murthy campaign  
Nifty snaps 3-day winning spree, down 67 pts  
Maruti rolls out sporty 'Ciaz S' at Rs 9.39 lakh  
RBI still has room to slash rate in current fiscal: Kidwai  
Our full sympathy with agitating Noida home buyers: FM  
Videocon names Rajesh Rathi as business head  
Sensex surges 235 pts as geo-political tensions ease  
Sensex jumps 191 points, ignores weak IIP data  
Trai website to soon display telcos' tariff plans: Sharma  
NPA resolution to spur credit expansion, growth: Panagariya  
Sensex, Nifty snap 5-week winning streak on profit-booking  
200 Indian business reps see great investment opportunities in Kazakhstan  
FICCI for substantial slash in policy rates by RBI  
Kochi Shipyard makes strong market debut after $225 million IPO  
Gold tops Rs 30,000-mark, spurred by safe haven appeal  
Govt has not written off single rupee of corporate loans: FM  
Sensex losses mount on global sell-off, dives 336 pts  
Def Min wants non-lapsable capital fund; writes to finance min  
Parijat Industries builds war chest of international trademarks in 45 countries  
Sensex closes at 1-mth low, hit by losses for 4th day  
Rupee wobbles on global tensions, dives 21 paise to 63.84  
Denial of benefit over lack of Aadhaar is breach of norms  
Nifty ends below 10,000, drops 79 pts  
 
Do you think Pulsar Suni's Madam is a spoof?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy