Trilegal advised on the stake sale by Resilient Asset Management B.V. of 19,210,110 equity shares of One 97 Communications Limited (“Paytm”), representing ~3% of Paytm’s share capital, through a block sale aggregating to approximately USD 309 million.
After the share sale, Resilient held 4,61,24,991 shares, or 7.20% stake in Paytm. Promoter Vijay Shekhar Sharma continues to hold 5,78,45,053 shares, or 9.02% stake, while his wife Mridula Sharma holds 7,00,000 shares, or 0.11% stake, in the company.
The transaction includes a base offering of up to 19.2 million shares, representing 3% of the company’s total outstanding equity, valued at ₹2,949 crore ($309 million).
Trilegal represented the broker, Goldman Sachs (India) Securities Private Limited.
The Trilegal Capital Markets team advising on the matter was led by Partners: Richa Choudhary and Maitreya Rajurkar; and Senior Associate, Sanya Chaudhari.