Resilient Asset Management B.V is an offshore or overseas entity fully owned by Sharma and will purchase 10.3 per cent stake held by Antfin in Paytm. In consideration of the stake acquired, Resilient Asset Management will issue optionally convertible debentures (OCDs) to Antfin. Post this transaction, the Chinese domiciled Antfin will hold 13.49 per cent stake in Paytm and not have any of its nominee on the latter’s board. In this instance, optionally convertible debentures of Resilient Management Services BV will be issued to Antfin. While the number of debentures issued hasn’t been revealed, Antfin will get to retain economic value of the 10.30 per cent stake in Paytm through the OCDs of Resilient.

Source: The Hindu August 10, 2023 14:52 UTC