Alibaba Group Holding Ltd. and its affiliate Antfin have sold their entire stake in Paytm Mall for Rs 42 crore, according to a regulatory filing.
The exit transaction values the e-commerce firm at around Rs 103 crore.
Paytm E-commerce, parent firm of Paytm Mall, bought 28.34% stake of Alibaba and 14.98% stake held by Antfin (Netherlands) Holding BV, the filing stated. The company has raised around $800 million from several investors, including Alibaba, Ant Financial and SoftBank Group Corp. so far.
No immediate comment was received from Paytm Mall on this transaction.
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