Indian financial services holding company Reliance Capital is planning to sell a one percent stake in the digital payment platform Paytm for an amount of $ 50-60 million.
If sources are to be believed, Reliance Capital raises $ 50-60 million by selling a part of its shares to one97 Communications which is the parent company of Paytm.
Recently, Reliance Capital announced that it will cut short its proprietary investment portfolio as a part of its plans to monetise non-core assets.
In December last year, CEO and Founder of Paytm Vijay Shekhar Sharma, sold one percent of his shares in one97 communications to raise about Rs. 325 crore.
This money was pumped into the group’s payment bank operations which are supposed to commence later this month.