Reliance Capital plans to sell 1% stake in Paytm for $50-60 mn

Reliance Capital is in talks to sell its one per cent shareholding in digital payments firm Paytm for about USD 50-60 million.
According to sources, Reliance Capital is planning to raise USD 50-60 million by selling its one per cent share in One97 Communications, the parent company of Paytm.
When contacted, both Reliance Capital and Paytm spokespersons declined to comment on the matter.
Earlier, Reliance Capital had said it will trim down its proprietary investment portfolio as part of its plans to monetise non-core assets.
Alibaba-backed Paytm was valued at about USD 4.8 billion in its last round of funding.

In December last year, Paytm founder and CEO Vijay Shekhar Sharma sold 1 per cent of his holding in One97 Communications to raise about Rs 325 crore.
This money was to be pumped into the group's payments bank operations which are slated to commence later this month.