Paytm's VSS shareholding unchanged as Resilient to sell 4.98% stake

Paytm CEO Vijay Shekhar Sharma's direct shareholding will be unchanged despite Resilient Asset Management BV's plan to sell a 4.98% stake. The economic value will be retained by Antfin under a 2023 OCD agreement, as Paytm reports strong profit.

Details of the Stake Sale

Paytm founder and CEO Vijay Shekhar Sharma's direct shareholding in One97 Communications will remain unchanged as investment vehicle Resilient Asset Management BV proposes to sell a 4.98 per cent stake in the company, with the economic proceeds from the transaction to go to Antfin (Netherlands) Holding BV.

In an exchange filing on Monday evening, One97 stated that the 'economic value to be received by Resilient will be retained by Antfin under the Optionally Convertible Debenture (OCD) agreement'. The mobile payments company also said it is not a party to the proposed transaction and reiterated that there "will be no change in Founder's (Sharma's) direct shareholding in the company".

Background of the OCD Arrangement

Sharma currently holds roughly 9 per cent direct stake in Paytm, which will remain intact following the proposed transaction. While Resilient will execute the transaction, the economic value from the shares will be retained by Antfin under the terms of the agreement. The arrangement stems from Resilient's acquisition of approximately 10.2 per cent of Paytm's equity from Antfin in August 2023. Resilient issued OCDs to Antfin as consideration for the transfer. Under that arrangement, Resilient has held the legal and voting rights over the shares, while Antfin has retained the underlying economic interest. Antfin had fully exited its direct holding in Paytm in August 2025, after holding a 27.9 per cent stake in the company in 2021. The shares now proposed for sale by Resilient fall under the existing 2023 OCD arrangement.

Paytm's Financial Performance

The development comes as Paytm continues to strengthen its financial performance. For the quarter ended June 30, 2026, One 97 Communications reported a 79 per cent year-on-year increase in profit after tax to Rs 220 crore, while revenue from operations rose 28 per cent to Rs 2,448 crore. EBITDA more than doubled to Rs 203 crore during the quarter.

For FY26, the company reported a profit after tax of Rs 552 crore, with revenue rising 22 per cent year-on-year to Rs 8,437 crore, marking its first full year of profitability since its 2021 listing. The proposed stake sale comes against this backdrop of improving financial performance, while Sharma's direct holding in the company remains unchanged. (ANI)

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