• Rajasthan

    Cong 99
    BJP 81
    RLM 0
    OTH 19
  • Madhya Pradesh

    Cong 112
    BJP 97
    BSP 4
    OTH 8
  • Chhattisgarh

    Cong 53
    BJP 26
    JCC 9
    OTH 1
  • Telangana

    TRS-AIMIM 82
    TDP-Cong 25
    BJP 6
    OTH 6
  • Mizoram

    MNF 25
    Cong 10
    BJP 1
    OTH 4

* Total Tally Reflects Leads + Wins

More financial muscle to take on Flipkart, Amazon! Paytm Mall receives final tranche of Rs 3,000 cr funding from SoftBank, Alibaba

By: | Updated: June 12, 2018 10:36 PM

In April, Paytm Mall had closed USD 445 million funding round from SoftBank Investment Holdings and Alibaba.com Singapore E-commerce.

flipkart, amazon, paytm mall, softbank, alibaba, paytm mall recives fundingPaytm Mall has received the final tranche of its USD 445 million (about Rs 3,000 crore) funding from SoftBank and Alibaba, a move that will give the online shopping venture of Paytm more financial muscle to take on giants like Flipkart and Amazon.

Paytm Mall has received the final tranche of its USD 445 million (about Rs 3,000 crore) funding from SoftBank and Alibaba, a move that will give the online shopping venture of Paytm more financial muscle to take on giants like Flipkart and Amazon. In April, Paytm Mall had closed USD 445 million funding round from SoftBank Investment Holdings and Alibaba.com Singapore E-commerce. According to the latest documents filed with the Registrar of Companies (RoC), Paytm E-commerce — which runs Paytm Mall — has issued a total of 237,705 shares to SB Investment Holdings (UK) and Alibaba.com Singapore E-commerce as part of the fourth tranche.

The issuance of 211,293 shares to SB Investment Holdings and 26,412 shares to the Alibaba entity was approved by the Board of Paytm E-commerce on June 6, 2018, the documents added. Emails sent to Paytm Mall, SoftBank and Alibaba did not elicit a response. Previously, a Paytm E-commerce filing had showed that an aggregate amount of USD 400 million (about Rs 2,600 crore) was to come from SB Investment Holdings (UK) and its affiliates. Another USD 45 million was to be pumped in by Alibaba.

The entire transaction was split in four tranches, the last of which has come in now. After the fourth tranche, SB Investment Holdings has a 21.13 per cent shareholding, while Alibaba.com Singapore E-commerce has 30.15 per cent share. Other significant shareholders include Alipay Singapore E-commerce (15.9 per cent), SAIF Partners (18.67 per cent) and Paytm founder Vijay Shekhar Sharma (9.66 per cent).

The funding will be significant for Paytm Mall to expand its operations as it competes head-on with larger rivals like Flipkart and Amazon in the Indian e-commerce market. While the sector is still in a nascent stage, analysts expect it to grow to USD 200 billion in over a decade.

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