Update: According to multiple sources, Alibaba has invested over $830 Mn in this round against 30% stake.
We have reached out to Vijay Shekhar Sharma to confirm the transaction value, however, his reply is awaited.
Chinese ecommerce giant, Alibaba Group Holding and its affiliate, Ant Financial Services Group have announced to make an undisclosed amount of investment in One97 Communications, the parent company of Paytm.
Ant Financial had invested in Paytm in February 2015 and is also offering strategic and technical support to the company.
According to ET, with respect to the deal, Alibaba will pick up about 20% stake through a fresh issue of shares by investing about $680 Mn (around INR 4,450 Cr).