Paytm Mall sells 5.5% stake to eBay for $160 mn
Continuing with its fund raising exercise, Paytm Mall has raised about Rs 1,101 crore ($160 million) by selling a 5.59% stake to US-based e-commerce firm eBay, according to a regulatory filing by Paytm E-commerce Private Ltd.
With this round, the Indian e-commerce giant has now raised about $805 million in three rounds.
Paytm E-commerce, the parent firm of Paytm Mall, has issued preferential shares on a private placement basis to e-Bay.
Alibaba's Singapore-based entity owns a 30.15% stake in Vijay Shekhar Sharma-led firm while SoftBank will have a little over 21% 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."