Mumbai, Aug. 17 -- One 97 Communications Ltd., the parent entity that operates mobile payments pioneer Paytm, on Monday informed stock exchanges that Resilient Asset Management B.V. intends to sell up to 4.98% of its shareholding in the company through a block market trade. The proceeds from the transaction will accrue to Antfin under an existing optionally convertible debenture (OCD) agreement, further reducing its indirect economic exposure to Paytm.

Resilient Asset Management B.V. is wholly owned by Paytm founder and chief executive Vijay Shekhar Sharma.

Under an arrangement dated August 2023, disclosed by the company, Antfin transferred about 10.2% of its equity stake in Paytm to Resilient in exchange for OCDs (issued by Resilient t...