Reliance sells Paytm stake for ₹275 crore, makes 2,600% gain
Anil Ambani-led Reliance Capital has sold nearly 1% stake in Paytm at a 2,600% gain, for ₹275 crore to Paytm investor Alibaba, reports said. In 2010, Reliance invested ₹10 crore in Paytm ahead of Paytm's parent One97 Communications' proposed IPO, which was later aborted. Earlier, Paytm Founder Vijay Shekhar Sharma sold 1% stake in One97 Communications to raise ₹325 crore.