<p>China's Ant Group and Japan's SoftBank Group Corp are seeking to sell their stakes in Indian digital payments firm Paytm in the open market, the <em>Economic Times</em> reported on Monday.</p>.<p>The companies had earlier approached Bharti Airtel founder-chairman Sunil Mittal to sell their stakes in Paytm's parent One 97 Communications, but those talks did not make much headway, <em>ET </em>reported, citing people familiar with the matter.</p>.<p>SoftBank, Ant Group, Paytm and Bharti Airtel did not immediately respond to <em>Reuters'</em> request for comments.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/essar-to-invest-36-billion-in-energy-transition-in-uk-india-1195510.html" target="_blank">Essar to invest $3.6 billion in energy transition in UK, India</a></strong><br /><br />A secondary sale to financial investors in the open market through a block deal is, however, still a possibility, the <em>Economic Times</em> reported.</p>.<p>Ant has a nearly 25 per cent stake in Paytm, while SoftBank owns about 13 per cent, according to exchange data.</p>.<p>Paytm has been under pressure to turn profitable ever since its dismal listing in late 2021.</p>.<p>Its shares have tumbled about 70 per cent below their IPO price of Rs 2,150 as lofty valuations of loss-making tech firms come under scrutiny amid volatility in the financial markets.</p>.<p>China's Alibaba Group earlier this month exited Paytm by selling its remaining stake in the company for about Rs 1,377 crore ($166.20 million). SoftBank had also previously sold a 4.5 per cent stake in Paytm through block deals for about Rs 1,657 crore ($200 million).</p>.<p>Paytm's shares rose 1.5 per cent to Rs 632.90 as of 1:47 pm. IST. <em>($1 = 82.86 Indian rupees)</em></p>
<p>China's Ant Group and Japan's SoftBank Group Corp are seeking to sell their stakes in Indian digital payments firm Paytm in the open market, the <em>Economic Times</em> reported on Monday.</p>.<p>The companies had earlier approached Bharti Airtel founder-chairman Sunil Mittal to sell their stakes in Paytm's parent One 97 Communications, but those talks did not make much headway, <em>ET </em>reported, citing people familiar with the matter.</p>.<p>SoftBank, Ant Group, Paytm and Bharti Airtel did not immediately respond to <em>Reuters'</em> request for comments.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/essar-to-invest-36-billion-in-energy-transition-in-uk-india-1195510.html" target="_blank">Essar to invest $3.6 billion in energy transition in UK, India</a></strong><br /><br />A secondary sale to financial investors in the open market through a block deal is, however, still a possibility, the <em>Economic Times</em> reported.</p>.<p>Ant has a nearly 25 per cent stake in Paytm, while SoftBank owns about 13 per cent, according to exchange data.</p>.<p>Paytm has been under pressure to turn profitable ever since its dismal listing in late 2021.</p>.<p>Its shares have tumbled about 70 per cent below their IPO price of Rs 2,150 as lofty valuations of loss-making tech firms come under scrutiny amid volatility in the financial markets.</p>.<p>China's Alibaba Group earlier this month exited Paytm by selling its remaining stake in the company for about Rs 1,377 crore ($166.20 million). SoftBank had also previously sold a 4.5 per cent stake in Paytm through block deals for about Rs 1,657 crore ($200 million).</p>.<p>Paytm's shares rose 1.5 per cent to Rs 632.90 as of 1:47 pm. IST. <em>($1 = 82.86 Indian rupees)</em></p>