• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, June 23, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Paytm’s CEO confronts, “Alibaba and Paytm were never together in the business”

by Sneha Singh
January 18, 2023
in News
Reading Time: 2 mins read
0
Paytm
TwitterWhatsappLinkedin

The founder and CEO of Paytm stated at Davos on January 17 that Alibaba was never a vital shareholder of the fintech company. This occurred just days after the Chinese internet giant sold shares in the Indian fintech business for $125 million. Speaking to CNBC TV18 on the sidelines of the World Economic Forum, Sharma claimed that the deal might have been better organised and that the company needed to be aware of it in advance

You might also like

Apple Eyes AI Startup Perplexity in Acquisition Discussions

Texas Enacts Statewide Ban on Student Cellphone Use During School Hours

FBI Warns Americans to Delete Fraudulent DMV Scam Texts Amid 700% Surge in Attacks

Man, I can feel for our cricket team': Vijay Shekhar Sharma ahead of Paytm listing - BusinessToday“Alibaba was never a strategic shareholder for us. Alibaba and Paytm were never together in the business… The exit could have been planned better, but it is what it is,” he said. A financial investor makes a wager only looking for returns, unlike a strategic shareholder who has business ties to the investee company.

Alibaba and Ant Financial, a subsidiary of Alibaba, increased their stock investment in Paytm by over 44% in 2015 by investing $680 million, making them the company’s top shareholders. The pair still owns about 28 per cent of Paytm even after selling shares in the Noida-based fintech at its IPO and the most recent transaction.

Alibaba increased their stock investments in Paytm

Since the unicorn fintech company went public in November 2021, analysts and investors have questioned its business strategy, the road to profitability, and the threat from regulatory changes, causing its shares to lose 75% of their value.

Paytm’s share price began on the BSE considerably lower by 6.4% at 563.25 due to the development, and the benchmark Sensex on the BSE fell 26 points to 61,954 levels. The large-cap stock, which had already lost some ground, dropped as much as 10% to reach a low of 541.3 thanks to heavy trading volume. Compared to the two-week average volume of 1.24 lakh stocks, there was a sharp increase in selling activity as 28 lakh shares were traded over the counter on the BSE.

As investors were uneasy following the expiration of the pre-IPO shareholders’ one-year required lock-in period on November 16, the stock remained under pressure. The pre-IPO investors, including Warren Buffet’s Berkshire Hathaway, billionaire Jack Ma’s Alibaba Group, SoftBank, and Elevation Capital, are free to sell their shares in the company after the lock-in period has expired.

Since its listing on November 18, 2021, Paytm, one of the worst-performing initial public offerings (IPOs), has destroyed 72% of investors’ capital. The company had raised 18,300 crores through publicly listing shares at an issue price of 2,150, making it the second-largest IPO in the nation’s history.

According to information on the BSE, Paytm shares reached an all-time high of 1,961.05 on November 18, 2021, the day they were listed, and a record low of 511 on April 5, 2022. The stock’s current trading price is more than 72% below the 2,150 it cost to issue it in the IPO.

Tags: Alibabaceo of paytmpaytmSharesStockstockinvestmentVijay Shekhar Sharma
Tweet54SendShare15
Previous Post

To accept updated iCloud terms and conditions, the Apple TV requires iPhone

Next Post

“Peltz lacks skills and experience”, Disney claims

Sneha Singh

Sneha is a skilled writer with a passion for uncovering the latest stories and breaking news. She has written for a variety of publications, covering topics ranging from politics and business to entertainment and sports.

Recommended For You

Apple Eyes AI Startup Perplexity in Acquisition Discussions

by Sneha Singh
June 23, 2025
0
Apple Eyes AI Startup Perplexity in Acquisition Discussions

Apple executives are quietly exploring the possibility of acquiring artificial intelligence startup Perplexity AI, according to sources familiar with the matter. The tech giant's interest stems from its...

Read more

Texas Enacts Statewide Ban on Student Cellphone Use During School Hours

by Harikrishnan A
June 23, 2025
0
Can the iPhone Be Made in America? Trump Thinks So — But Reality Tells a Different Story

A new law in Texas is about to change what school days look like for thousands of students. Signed by Governor Greg Abbott, House Bill 1481 (HB 1481)...

Read more

FBI Warns Americans to Delete Fraudulent DMV Scam Texts Amid 700% Surge in Attacks

by Harikrishnan A
June 23, 2025
0
FBI Warns Americans to Delete Fraudulent DMV Scam Texts Amid 700% Surge in Attacks

A new wave of scam text messages pretending to be from state Departments of Motor Vehicles (DMVs) is sweeping across the United States, prompting a serious warning from...

Read more
Next Post
Disney

"Peltz lacks skills and experience", Disney claims

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?