<p>Reliance Capital has sold its nearly 1 per cent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm.<br /><br /></p>.<p>The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm.<br /><br />The deal gives a valuation of over USD 4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.<br /><br />Sources said that Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at USD 1 billion.<br /><br />A Reliance Capital spokesperson declined to comment on the deal while Paytm spokesperson also did not comment.<br /><br />Earlier, Reliance Capital had said it would trim its proprietary investment portfolio as part of its plans to monetise non-core assets.<br /><br />In December last year, Paytm founder and CEO Vijay Shekhar Sharma had sold 1 per cent of his holding in One97 Communications, the parent firm of the digital payments firm, to raise about Rs 325 crore.<br /><br />This money was to be pumped into the group's payments bank operations, which are slated to commence soon.<br /><br />Alibaba Singapore E-commerce, along with investment firm SAIF Partners, is also slated to invest USD 200 million in Paytm's online marketplace unit.<br /></p>
<p>Reliance Capital has sold its nearly 1 per cent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm.<br /><br /></p>.<p>The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm.<br /><br />The deal gives a valuation of over USD 4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.<br /><br />Sources said that Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at USD 1 billion.<br /><br />A Reliance Capital spokesperson declined to comment on the deal while Paytm spokesperson also did not comment.<br /><br />Earlier, Reliance Capital had said it would trim its proprietary investment portfolio as part of its plans to monetise non-core assets.<br /><br />In December last year, Paytm founder and CEO Vijay Shekhar Sharma had sold 1 per cent of his holding in One97 Communications, the parent firm of the digital payments firm, to raise about Rs 325 crore.<br /><br />This money was to be pumped into the group's payments bank operations, which are slated to commence soon.<br /><br />Alibaba Singapore E-commerce, along with investment firm SAIF Partners, is also slated to invest USD 200 million in Paytm's online marketplace unit.<br /></p>