Vijay Shekhar Sharma to acquire a 10.3% stake in Paytm from Ant Group for $628m.

Vijay Shekhar Sharma agreed to acquire a 10.3% stake in Paytm, a digital payments start-up that offers innovative and intuitive digital products and services for customers and merchants, from Ant Group, an affiliate company of the Chinese Alibaba Group and owner of largest digital payment platform Alipay, for $628m. “I am proud of Paytm's role as a true champion of made-in-India financial innovation, and our achievements in revolutionizing mobile payments and contributing to formal financial services inclusion in the country. As we announce this transfer of ownership, I would like to express my sincere gratitude to Ant for their unwavering support and partnership over the past several years,” Vijay Shekhar Sharma, Paytm CEO.