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1-min read

eBay Buys 5.5% Stake in Paytm Mall for $160 Million

Paytm E-commerce, the parent firm of Paytm Mall, has issued preferential shares on private placement basis to e-Bay.

PTI

Updated:July 31, 2019, 9:40 PM IST
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Paytm Payments Bank Logs Rs 30.7 Crore loss in August 2016 - March 2017 (twitter.com/PaytmBank)
Image for representation. (twitter.com/PaytmBank)

New Delhi: US based e-commerce firm eBay has bought a 5.59 per cent stake in Paytm Mall for USD 160 million (around Rs 1,101 crore), according to a regulatory filing by Paytm E-commerce Private Limited.

Paytm E-commerce, the parent firm of Paytm Mall, has issued preferential shares on private placement basis to e-Bay.

"E-bay has invested around USD 160 million in Paytm Mall for a 5.59 per cent stake. The money was received from the Singapore arm of the US-based e-commerce juggernaut," a source told PTI.

With this round, Paytm Mall has raised about USD 805 million in total funding across three rounds.

Alibaba's Singapore-based entity owns 30.15 per cent stake in Vijay Shekhar Sharma-led firm while SoftBank will have a little over 21 per cent shareholding post this investment.

When contacted, Paytm Mall executive director Rudra Dalmia said, "We are proud to have investors like eBay and Alibaba who have always been disciplined investors and disciplined operators - focusing on the bottom line and profitable for several years consistently. Their guidance and support will be invaluable to the management."

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