Resilient Asset Management, owned by Vijay Shekhar Sharma and acting on behalf of Alibaba affiliate Antfin, has sold 1.92 crore shares in Paytm parent One97 Communications in a block deal valued at nearly ₹2,949 crore, cutting its stake from 10.03% to 7.2%.
- Resilient sold 1.92 crore Paytm shares worth ₹2,949 crore
- Stake reduced from 10.03% to 7.2% post deal
- Transaction involved major global and Indian institutional investors
What happened
Resilient Asset Management, a holding company owned by Paytm founder Vijay Shekhar Sharma and acting on behalf of Alibaba Group affiliate Antfin, conducted a block deal selling 1.92 crore shares in Paytm’s parent company, One97 Communications. The deal fetched about ₹2,948.9 crore and involved offloading shares to various institutional investors including Goldman Sachs, BNP Paribas, ICICI Prudential, HSBC Mutual Fund, and SBI Mutual Fund. The shares were transacted at ₹1,535.10 each, slightly lower than the previous closing price, indicating a minor discount.
At the end of June 2026, Resilient held a 10.03% fully diluted stake in Paytm. After executing this block trade, the stake shrank to 7.2%. The sale was part of an arrangement where Resilient holds shares that it originally acquired from Antfin, the Alibaba-affiliated investment arm, through off-market transactions and is bound by an optionally convertible debenture agreement retaining economic value for Antfin.
Why it matters
This transaction signals continuing reshuffling of foreign investment stakes in major Indian fintech players amid broader geopolitical tensions impacting cross-border holdings, especially between India and China. Antfin, now Ant Group, initially took a significant stake in Paytm in 2015 but has since engaged in complex structuring to maintain its economic interest despite regulatory and bilateral challenges. Resilient’s divestment while preserving economic ties through OCDs is a strategic move to navigate these constraints.
The entry of heavyweight institutional investors such as Goldman Sachs and HSBC Mutual Fund into Paytm shares underscores the company's continued attractiveness to global and domestic investors. Meanwhile, the sale reflects subtle changes in ownership dynamics that could impact corporate governance and strategic directions in Paytm as it pursues growth in India’s competitive digital payments market.
What to watch next
Market participants should monitor if Resilient Asset Management or Antfin execute further share sales under the optionally convertible debenture agreements or other arrangements, which could alter shareholding structures significantly. The evolving regulatory landscape around foreign ownership in Indian fintech will also be important for future transactions and investment flows.
Additionally, investor appetite from both foreign and domestic institutional investors will shape Paytm’s stock performance and capital raising abilities. Watch for any announcements from Paytm regarding new fundraising, strategic partnerships, or regulatory negotiations that reflect the impact of this notable block trade and ownership restructuring.