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# China e-commerce giant Alibaba sells off its remaining stake in India's Paytm
- URL: https://www.techloy.com/alibaba-exits-indias-paytm/
- Published: 2023-02-16T14:05:52.000Z
- Updated: 2023-02-16T14:05:52.000Z
- Author: Emmanuel Oyedeji
- Tags: / Fintech, Business, Tech in India

Alibaba Group Holding has sold off its remaining stake in Indian digital payment platform Paytm in a block deal, according to a report by *Nikkie Asia*.

Alibaba.com Singapore E-Commerce Pvt Ltd offloaded 21.43 million shares of Paytm's operator One97 Communications, at 642.74 rupees per share and a total worth of 13.7 billion rupees ($166 million), India's National Stock Exchange shows.

Before this sell-off, Alibaba had sold a 3.1% of a 6.26% stake in the company in January, through a block deal worth $125 million.

While it was not immediately clear why Alibaba sold the stake, the exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.

Since its dismal listing in November 2021, its stock has declined around 70% and tumbled 60% in 2022, according to *Reuters*.

Alibaba's presence in India is now nearing an end after it had earlier sold its stakes in Indian food delivery company, Zomato and India's largest online grocery supermarket, BigBasket.