Paytm Founder Vijay Shekhar

Nearly nine years ago, Paytm founder and CEO Vijay Shekhar Sharma had remarked, "We are as Indian as Maruti," in an interview with PTI, responding to queries about the company's ownership structure at that time. That statement, once seen as symbolic, now reflects the reality, one where Paytm stands as a truly Indian company, both in spirit and shareholding. The mobile payments company is 100 per cent Indian-owned after Jack Ma's Ant Financial exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for around Rs 3,803 crore. A person aware of the contours of the deal said, "Paytm is now as Indian as Tata." This transformation became official with the recent exit of Antfin (Netherlands) Holding BV, which sold its residual 5.84 per cent stake in Paytm for about Rs 3,800 crore through a block deal. With this, Chinese ownership in the company has been reduced to zero, marking a significant shift in its shareholding pattern. In 2016, Vijay She

Earlier this year, PCTL acquired a 25 per cent stake in Brazil-based embedded finance firm Seven Technology for $1 million

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Paytm's CEO Vijay Shekhar Sharma assured the employees that they will figure everything out soon

Payments bank says it has upheld compliance with supervisory instructions

A message from the company's founder and chief executive officer, Vijay Shekhar Sharma, on messaging platform X did not help clarify matters for users of Paytm services

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On closing of this transaction, Sharma's shareholding in Paytm (direct and indirect) will increase to 19.42 per cent, whereas Antfin's shareholding will reduce to 13.5 per cent

After the transaction, Sharma's stake in the company will rise to 19.42%, and Antfin will cease to be the largest shareholder of Paytm

At the end of December, Alibaba had 6.26 per cent stake in the firm and it had sold around 3 per cent of it in January

Sharma along with Elon Musk, Jack Dorsey and others is urging users to protect their privacy by moving on to Signal app

The e-commerce platform of Vijay Shekhar-founded One97 Communications believes it could serve as a gateway for international brands and sellers to do business in India

A few months ago, founders of Flipkart and Ola called for government protection from rivals Amazon and Uber