eBay had announced a strategic partnership with Paytm Mall
eBay has acquired a 5.59% stake in Paytm Mall as part of the deal
The year 2019 started with a rejig of top-level management at Paytm Mall
US-based ecommerce company eBay is investing more than discussed in Indian ecommerce company, Paytm Mall. On July 18, eBay had announced a strategic partnership with Paytm Mall along with acquiring a 5.5% stake in the Indian ecommerce marketplace. The company was speculated to be investing $150 Mn.
However, according to the Ministry of Corporate Affairs filings accessed by Inc42, Paytm E-commerce private limited is issuing 1,28,028 equity shares at a price of $1,249.73 per share to eBay Singapore Service Pvt Ltd. The transaction is worth $160 Mn.