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Jack Ma Exits Paytm Mall; Sells 43% For ₹42 Cr Valuation Down To Rs 100 Cr

Five years after making its biggest bet in India’s e-commerce market, Jack Ma-led Alibaba and Ant Financials have exited Paytm E-commerce, the parent entity of Paytm Mall

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Paytm ecommerce bought back the entire stake of Alibaba (28.34%) and Antfin (Netherlands) Holding (14.98%), a total of 43.32%, for Rs 42 crore, according to the company’s filings.

This values the company at a mere ₹100 crore, plunging from $3 billion, the valuation the Vijay Shekhar Sharma-led company fetched in its last fundraising that was in 2020.

Paytm ecommerce has proposed reducing the company’s equity share capital and securities premium account and said it would hold an extraordinary general meeting on 23 May.