Paytm To Raise Additional $375M In Funds From Alibaba Group; Valuing It At $ 1.83B

paytmPaytm is all set to raise an additional $375 million in funds from its existing investor Alibaba Group.
Having got the board approval to raise additional funds, Paytm will be receiving the funds within the next six months. The deal is expected to increase Alibaba Group’s stake in the company to 41%.
The official documents filed by Paytm with RoC indicated that the allotment of shares in the latest tranche of fund-raising needs to be winded up within 12 months of the board passing the resolution approving it.
AliBaba Group has already invested $200 million into Paytm in two tranches of $65 million and $135 million for a stake of 25.88%. Paytm has also raised INR 1 crore from Ratan Tata’s personal investment firm RNT Associates Pvt. Ltd.

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