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Reliance Cap sells Paytm stake to China's Alibaba Group

India Blooms News Service | | Mar 07, 2017, at 06:34 pm

#RelianceCapitalPaytm #RelianceCapitalAlibaba #RelianceCapitalPaytmStake #RelianceCapitalOne97

Bengaluru, Mar 7 (IBNS) : Reliance Capital has sold its nearly 1 percent stake in digital payments firm Paytm's parent One97 Communications for Rs 275 crore to China's Alibaba Group, The Times of India reported.

Reliance Capital held a 0.83 per cent stake in One97 communications at the end of financial year 2016, as per documents Registrar of Companies.

ToI quoted its sources as saying that the Anil Ambani-led company scooped up about Rs 275 crore through the share sale.

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