Reliance Capital Sells its Stake in Paytm

IAS Prelims 2023

Reliance Capital has sold about 1% of its stake in digital payments firm Paytm to China’s Alibaba Group for Rs. 275 crore.

Reliance Capital had invested Rs. 10 crore for the stake in Paytm. Reliance Capital has retained a stake in Paytm e-Commerce (online marketplace unit), which it had got free of cost by virtue of the investment in the parent firm.

The deal, which values Paytm at more than $5 billion, has yielded huge gains for the financial services arm of the Reliance Group.