No Change for Paytm CEO: Resilient Sells Stake with Proceeds to Antfin

Paytm’s founder, Vijay Shekhar Sharma, retains his direct shareholding as Resilient Asset Management BV proposes a 4.98% stake sale in One97 Communications. The economic benefits will pass to Antfin under an existing agreement. Paytm announces its first full year of profitability since its 2021 listing.

Paytm's founder and CEO, Vijay Shekhar Sharma, will maintain his current stake in One97 Communications as Resilient Asset Management BV plans to sell a 4.98% stake in the company. The economic proceeds of this sale are set to benefit Antfin (Netherlands) Holding BV, according to the disclosure filed by One97 on Monday evening.

One97, the parent company of Paytm, made it clear in the filing that Sharma's approximately 9% direct shareholding would be unaffected by the transaction. While it's Resilient executing this stake sale, Antfin will hold onto the earnings under an Optionally Convertible Debenture (OCD) arrangement previously set in place.

This financial arrangement arises from Resilient's previous acquisition of 10.2% of Paytm shares from Antfin in August 2023. The transaction allowed Resilient to gain legal and voting rights while Antfin retained the economic interest. The stake sale news aligns with Paytm’s robust financial performance, as highlighted by a notable profit increase and revenue growth in recent reports.