NEW DELHI: One97 Communications, which runs
Paytm
, on Sunday informed the exchanges that founder and CEO
Vijay Shekhar
Sharma has become the sole significant beneficial owner (SBO) of the company. “We have been informed by Antfin that their shareholding in the company has reduced from (nearly) 23.8% to 9.9% of the total equity share capital. Accordingly, no person affiliated with Antfin will qualify as an
SBO
of the company,” the company said in a stock exchange filing.
Antfin’s total shareholding in Paytm has significantly reduced in the last few weeks after it sold 10.3% stake to
Resilient Asset Management B V
, an overseas entity 100% owned by Sharma. This was followed by sale of another 3.6% in block deals.
“The total share capital of
Sharma
in OCL is (over) 19.4% – making him the sole SBO of the company. Paytm remains a professionally managed company with no identified promoter. As per Indian laws, for anyone to be a promoter, the shareholding has to be above 25%,” Paytm said in a statement.
