अब आप न्यूज्ड हिंदी में पढ़ सकते हैं। यहाँ क्लिक करें
Home » business » Reliance Capital sells its stake in Paytm to Alibaba

Reliance Capital sells its stake in Paytm to Alibaba

by
Updated on :
After China backs Masood Azhar, #BoycottPaytm trends on Twitter
Source: ContactDetailsWala

On March 7, Business giant the Reliance Capital sold about 1% of its stake in digital payment portal Paytm to China’s Alibaba Group. It settled for Rs 275 crore, the cost of the deal, which will be procuring huge gains for the Ambani-led group. The finance arm of the Reliance group had to invest a net cost of Rs 10 crore for this stake in Paytm.

The strategic deal has a value of more than USD 4 billion to Paytm, which is already backed by Alibaba group. As per Outlook India reports, 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.

However, both Reliance Capital and Paytm spokesperson refused to comment on the deal.

Related

Latests Posts

Editor's Choice

Trending

Hindi Latest News