Business

R-Cap sells stake in Paytm for Rs 275 cr

PTI

Anil Ambani-led group firm Reliance Capital has sold its about 1 per cent stake in digital payments firm Paytm to China’s Alibaba Group for Rs 275 crore. The deal, which values Paytm at over $5 billion, has yielded huge gains for the financial services arm of the Reliance Group, according to sources. Reliance Capital had invested Rs 10 crore for the stake in Paytm, they added.