Reliance Capital sells Paytm stake to Alibaba for Rs 275 crore

TIL Desk/Business/Mumbai-Reliance Capital sells its Paytm stake to the Alibaba group for Rs 275 crore.  Reliance had invested Rs 10 crore for the Paytm stake.

Reliance Capital has been in talks to sell its one per cent shareholding in digital payments firm Paytm for about $50-60 million (Rs 500-Rs 600 crore).

Reliance Capital was planning to raise the money by selling its one per cent share in One97 Communications, the parent company of Paytm. Paytm e-Commerce valued at USD 1 billion in the latest fund-raising.