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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 eBay has bought a 5.59 percent stake in Paytm Mall 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 Vijay Shekhar Sharma-led firm while SoftBank will have a little over 21 percent shareholding post this investment.

When contacted, Rudra Dalmia, 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.”