1. Home
  2.   
  3. Blog
  4.   
  5. Reliance-sells-its-stake-in-one97-communications
 

Reliance Sells Its Stake In One97 Communications

Sohit Sharma

    Reliance Sells

Recently, the Anil Ambani led financial firm Reliance Capital invested its stake in One97 Communications (Paytm is a part of this company). The deal with Alibaba is estimated at Rs.275 Crore and in which Reliance will be having a certain percentage of stakes.

In the year 2015, Reliance had a stake of 1.5% by investing Rs.10 Crore in One97. Later in the same year, the plan was withdrawn. During the year 2015, One97 Communications had a share value of Rs200 as it dropped down from Rs250.

Before having a stake in One97 Communication, Reliance already had stakes in a list of reputed companies. The reports of the Economic Times stated that it had invested Rs.38 Crore in Yatra.com which is an online travel portal. Yatra is an emerging travel agency company which is worth Rs.175 Crore and Reliance has an 8.75% stake in this company.

Additionally, Reliance owns stakes in other companies such as semiconductor testing company Tessolve, Wellspring (Healthcare firm), Sula (Wine Maker) and GreenDust (a Logistics Company).

One97 Communication has experienced a major change by the end of 2016 with the involvement of Alibaba as they had a huge role in contributing good investment in One97 Communication and incorporate new opportunities of growth for Paytm.

Currently, the Chinese E-commerce company, Alibaba has 40% stake in One97 Communication. Alibaba recently invested huge $200 million in Paytm E-commerce and gave the company a capital valuation of $1 billion. In addition, One97 Communications has a current valuation of $4.8 billion however, the company officials remained silent and did not disclose the current financial transaction.

In the current scenario (2017), the Paytm's share is calculated at an amazing Rs.7,000 per share. Reliance contributes significantly in One97 Communications as it holds/sold major stakes in the Paytm E-commerce category. With Alibaba establishing itself in the Indian market by investing Crore of investments in Paytm marketplace, the decision from Reliance to have equity in the company will be a fruitful one.

According to a source in the Economic Times, Paytm’s founder Vijay Shekhar Sharma had shelled Rs.325 Crore to start the Paytm Payments bank in December 2017. The payments bank is new engagement from One97 Communication which is likely to begin in the next month. This new venture from the company will allow the users to have a bank account with Paytm. There will also be interests which can be gained by the users by having savings bank account with Paytm. 

Your email address will not be published. Required fields are marked * Sign in

Please Sign in first to post comments