Paytm CEO Vijay Shekhar Sharma to Buy 10.3 Percent Stake in Firm From Antfin Amid China Concerns
Paytm Chairman Vijay Shekhar Sharma will buy a 10.3 percent stake worth $628 million (roughly Rs. 5,195 crore) in the firm he founded from an arm of Chinese fintech giant Ant Financial in a deal that would make him its single largest shareholder.The move comes as Sharma, who is also Paytm's chief executive, looks to simplify its ownership structure amid broader concerns about Chinese ownership in Indian financial technology companies, analysts said.Sharma will now be the largest shareholder in the digital payments firm…