Paytm CEO Sharma to buy stake worth $628 million in co from Antfin Holding

FILE PHOTO: Paytm founder and CEO Vijay Shekhar Sharma delivers a speech during his company's IPO listing ceremony at the Bombay Stock Exchange (BSE) in Mumbai, India, November 18, 2021. REUTERS/Niharika Kulkarni/File Photo

BENGALURU (Reuters) -Paytm's founder and CEO, Vijay Shekhar Sharma, will buy a 10.3% stake valued at $628 million in the company from its largest shareholder, in a bid to simplify its ownership structure, the fintech company said in a filing on Monday.

Sharma's stake purchase from Antfin (Netherlands) Holding B.V. is valued at $628 million, as per Paytm's last closing price of 796.6 rupees a share.