BABA: Antfin's Paytm Exit Closes a Chapter — But $433M Ant Fallout Still Weighs
Court: S.D. New York
Case: 1:20-cv-09568
Alibaba's 
BABA affiliate Antfin is offloading its entire 5.84% stake in Paytm for Rs 3,803 crore (~$456M) via block deal on Indian stock exchanges, marking a full exit from one of its most high-profile overseas investments. The move aligns with ongoing efforts to reduce Chinese-origin holdings in Indian tech amid regulatory shifts.
Key Developments
- Antfin to sell 3.77 crore shares in Paytm via block deal on August 5
- Total value of transaction: Rs 3,803 crore (~$456M)
- Floor price: Rs 1,020 per share, 5.4% discount to last close
- Sale structured as a “clean-up trade” with no lock-in
- Citi and Goldman Sachs acting as placement agents
- Antfin previously sold Rs 1,371 crore worth of shares in August 2023
Legal Overhang
Alibaba BABA previously agreed to a $433.5 million settlement with investors over claims it misled them about Ant Group’s regulatory issues that derailed its IPO.
Timeline Overview
- November 5, 2019: Regulators warned Alibaba and peers to comply with antitrust rules
- November 2, 2020: Ant execs summoned by Chinese regulators
- November 3, 2020: Ant IPO suspended; BABA dropped 8.1%
- December 23-24, 2020: Antitrust investigation launched; BABA fell another 13%
- April 22, 2022: Investors filed suit over regulatory misstatements
Allegations Include
- Misleading statements about Ant Group’s IPO viability
- Failure to disclose regulatory risks to investors
- Poor risk governance ahead of a record $30B dual-listing plan
Investor Update
Alibaba settled the case in 2025 for $433.5 million, resolving investor claims tied to regulatory issues surrounding Ant Group and its failed IPO.
You can check more information about it and file for a payout HERE.