Ant Financial, an affiliate of Chinese conglomerate Alibaba Group, plans to sell a 4% stake in Indian payments firm Paytm through block deals valued at approximately $242-$243 million. The shares are being offered at a floor price of Rs 809.75 per share, which represents a 6.5% discount to Paytm's closing price on the preceding Monday. Separately, Zepto, an Indian food delivery startup, is set to close a $350 million secondary share sale. Prominent investors Motilal Oswal and Raamdeo Agrawal are each purchasing $50 million worth of shares in Zepto in their personal capacities. Other participants in the funding round include Edelweiss and Hero Fincorp. Zepto is also shifting shares from foreign to Indian investors to obtain Indian company status, a move expected to unlock new business opportunities and regulatory benefits. Additionally, General Atlantic Singapore Fund Pte is likely to sell a 6.9% stake in KFin Technologies via block deals, and Aether Industries promoter Purnima Desai plans to sell up to 6.77% equity through an offer for sale at a floor price of Rs 700 per share on May 13 and 14. Allied Blenders and Distillers is considering raising funds through equity shares or securities on May 15.
Zepto is shifting shares from foreign to Indian investors to gain Indian company status, a move that could open up fresh business opportunities and regulatory advantages #Zepto #BusinessNews #FoodDelivery https://t.co/glxS3KbfMX
#JustIn | Allied Blenders and Distillers to consider fund raising via equity shares or securities on May 15 https://t.co/GyqARR8l2m
#NewsAlert | Ant Financial seeks to sell 4% stake in Paytm via block at Rs 809.75/sh floor price (Agencies) @AntGroup @Paytm https://t.co/I5M8a0LnSP