Alibaba Exits India: Alibaba’s India business Gundalla; Remove all shares in Paytm
[ad_1]
Pudhari Online Desk : China’s largest e-commerce company Alibaba Exits India is preparing to completely stop its business from India. Your entire shares in Alibaba, Paytm have been sold through block deals. According to sources, Chinese company Alibaba has sold the remaining 3.16 per cent stake in Paytm’s parent company One97 Communications for around Rs 13,600 crore. Or Alibaba did not remain a shareholder in Paytm after the block deal.
Alibaba is one of the early investors in Paytm. Or after the agreement, the exit route of Alibaba was opened. (Alibaba Exits India) The Chinese company would have sold its stake in Zomato and BigBasket earlier. By December 2022, Alibaba would have a 6.26 per cent stake in Paytm. He would have sold 3.1 per cent stake in January. The agreement for the sale of the remaining 3.16 per cent share was signed on Friday (D.10). Or as a result of the contract, you have sold your entire shares in the Alibaba company.
Shares fall after block deal (Alibaba Exits India)
Due to good performance in the December quarter, Paytm’s share decreased. After that there is a boom in the shares of the company. The company released October-December 2022 on February 3 and became famous for bananas. From then till February 9, Paytm would have gained more than 34 percent. Shares of Paytm’s parent company One97 Communications fell by 9 per cent. The company would have declared December quarter operating profit. The net profit of the company has come down to Rs.392 crore from Rs.779 crore in the previous year. Due to this, the shares of the company would have increased. But it seems to have decreased due to the sale of Alibaba’s shares.
Hehi Covenant:
[ad_2]
Source link
