Paytm share sale: Alibaba-backed Antfin to offload entire stake via block deal on August 5

One 97 Communications Ltd. (Paytm) is set for a significant block trade on August 5, 2025, as Antfin (Netherlands) Holding BV prepares to offload its stake through a secondary share sale on the Indian stock exchanges. The deal, structured as a fully secondary sale, will see up to 38.033 million shares (approximately $434 million) being offered at the floor price of Rs 1,020 per share — a 5.4% discount to Paytm’s last traded price of Rs 1,078.20 on the NSE.

Citigroup Global Markets India Pvt. Ltd. and Goldman Sachs (India) Securities Pvt. Ltd. are acting as the placement agents for the transaction. The sale may represent up to 6.84% of Paytm’s total share outstanding (TSO), with flexibility to go up to 3.73 million shares (5.84% of TSO) based on demand.

The expected trade date is August 5, with a settlement scheduled for August 6 (T+1). The offering will be executed on a screen-based trading platform and is open to qualified institutional buyers (QIBs), accredited investors in Canada, and permitted clients outside the U.S. as per applicable securities laws.

The placement does not include a lock-up and is categorized as a “clean-up trade.” Investors are required to issue instructions for execution by 7 AM IST on August 5. While the order book opens the same day, the placement agents reserve the right to cancel or adjust unfilled orders and have full discretion over allocation, especially for foreign portfolio investors subject to investment headroom.

The USD/INR rate for conversion is pegged at 87.6525 as of August 4, 2025 (4:00 PM IST), based on Bloomberg data.

This strategic exit move by Antfin underscores a broader realignment of shareholding in the Indian fintech major, coming amid growing investor interest and evolving regulatory oversight in India’s digital payments space.