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eBay buys 5.5 pc stake in Paytm Mall for US$ 160 million

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US based e-commerce firm has bought a 5.59 percent stake in for US$ 160 million (around Rs 1,101 crore), according to a regulatory filing by Paytm E-commerce Private Limited.

eBay buys 5.5 pc stake in Paytm Mall for US$ 160 million

According to a PTI report: Paytm E-commerce, the parent firm of Paytm Mall, has issued preferential shares on private placement basis to e-Bay.

“E-bay has invested around US$ 160 million in Paytm Mall for a 5.59 percent stake. The money was received from the Singapore arm of the US-based e-commerce juggernaut,” a source told PTI.

With this round, Paytm Mall has raised about US$ 805 million in total funding across three rounds.

Alibaba’s Singapore-based entity owns 30.15 percent stake in -led firm while SoftBank will have a little over 21 percent shareholding post this investment.

When contacted, , Executive Director, Paytm Mall told PTI, “We are proud to have investors like eBay and Alibaba who have always been disciplined investors and disciplined operators – focusing on the bottom line and profitable for several years consistently. Their guidance and support will be invaluable to the management.”